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Brexit Checklist: Commercial Invoicing
03 December 2020
4 WEEK COUNTDOWN!
As we get closer and closer to the end of the Transition Period (31st December 2020, we count down the weeks by highlighting areas that are key in preparing your business for the new trading models in 2021.
This week: COMMERCIAL INVOICES
The free trade between the UK and the EU meant that a commercial invoice was there simply to be issued and paid. It was largely irrelevant in terms of physically shipping goods from one member state to another.
From January 1st 2021, the correct paperwork will be crucial. Missing or inaccurate documents can increase risks and lead to delays and extra costs.
As the commercial invoice will play a more important role in trade with the EU, extra fields may need to be included to cover all of the necessary requirements.
The information should be sufficient to populate relevant fields on a customs declaration, otherwise trying to get this additional information might cause delays.
- Commercial invoice number
- Commercial invoice date
- Seller name and address
- Seller EORI Number
- Buyer name and address
- Buyer EORI number
- Country of origin of the goods
- Number of packages
- Type of packages
- Description of goods
- Gross weight
- Net weight
- Volume
- Goods value and currency
- Incoterms
- Commodity codes and breakdown:
- Commodity Code / No. of pieces / Gross weight / Net weight / Value
COMING UP
All you need to know about our booking forms for EU customs clearances and the processes to follow.
READ UP
For a full overview of the last weeks' Brexit checklist points, head here.