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EXPORT DOCUMENTS
Documents required for an international sale can vary significantly
from transaction to transaction, depending on the destination and
the product being shipped. At a minimum, there will be two
documents: the invoice and the transport document. The buyer
will usually provide the seller with a list of documents needed to
get the goods into his country as expeditiously and inexpensively
as possible. Some documentary requirements are not open to
negotiation, as they are needed by the importer to clear customs
at the port of destination. This presentation discusses
documentation in relation to export letters of credit.
When the letter of credit payment method is used for an export
sale, each document presented under the terms and conditions of
the letter of credit must:
1) Conform to all L/C terms and conditions.
2) Comply with the UCP 500.
3) Agree with the data content of every other document.
For the following documents listed, the number in parenthesis
refers to the relevant UCP 500 article.
THE BILL OF EXCHANGE / DRAFT (UCP Article 9)
Almost every letter of credit presentation and documentary
collection is accompanied by a draft. This demand for payment is
drawn by the seller on the payee. The payee on a letter of credit
draft is almost always a bank. For a documentary collection it
would be the buyer.
COMMERCIAL INVOICE (UCP Article 37)
The accounting document claiming payment from the buyer.
Normally an export invoice would include:
- Sellers name and address
- Buyers name and address
- Issue Date
- Invoice Number
- Shipping marks and numbers
- Term of Sale: e.g. FOB, etc.
- Shipping information
- Info required by L/C
- Country of Origin
- L/C number
- Merchandise description, P.O. number, unit price, and total price