Approving the commercial invoice 7/1

The commercial invoice is a document issued by the exporter that includes the details of the commodity sold. The commercial invoice shall contain:

  • Name and address of the seller and buyer
  • Place and date of issuance of the invoice
  • Shipping method
  • Quantity, description and price of goods
  • Terms of shipment and payment
  • Information on the bill of lading and other documents.

In addition to the above, the following shall be respected:

  • The description of the goods on the invoice should be the same as the one on the letter of credit..
  • Keep the description in the letter of credit as brief as possible and provide the same number of copies, as required for it, to the bank.
  • Prepare the invoice in the name of the buyer or the person named in the letter of credit.
  • The invoice description, details, number of packages and weight should be consistent with what appears on the invoice upon loading.
  • Specify the pricing basis, e.g. CIF - FOB, in the letter of credit. The amount shown on the invoice should not differ from the amount shown on the letter of credit.

Further information may be found via the following link:bit.ly

  • The Bill of Lading is one of the most well-known traditional shipping documents in Maritime transport.
  • The bill of lading is one of the most important documents when the goods arrive at the borders of the importing country, as it is the only evidence of ownership of goods by the owner.
  • The document replaces the contract between the exporter and the shipping company as it covers the transportation of the goods from the port of export to the port of import.
  • The police replace the acknowledgement of receipt and confirm the right of ownership of the goods to the document holder.
  • The goods are delivered to the consignee named on the bill of lading..
  • A notice of delivery against the goods will not be issued by the shipping agent nor accepted by the customs authorities if the document does not indicate the name, address and numbers of the consignee..
  • The other documents accompanying the copy of the bill of lading being recovered by the carrier include the following:
    • 1- A copy of the commercial invoice.
    • 2-A copy of the certificate of origin.
    • 3- Packing declaration. Weight certificate.
    • 4-Other certificates related to the products issued by the exporting country..

Further information may be found via the following link: bit.ly

  • With respect to insurance documents, banks will not accept the "insurance plan" unless the "insurance policy" or customs document are acceptable under the letter of credit
  • The insurance plan shall cover the required risks in an adequate amount.
  • The exporter shall also indicate this when the terms CIF (cost, insurance, and freight) and CIP (Carriage and Insurance Paid To) are used in the quotation..
  • The exporter shall regulate the export in accordance with the rules governing the letter of credit.
  • Coverage is paid on the main cargo for up to 110% of the CIP & CIF value if it is not of that value and banks usually refuse to accept the insurance policy..
  • The insurance plan shall be in the name of the consignor and shall be approved by the bank except in cases specified in that country.
  • The document shall be signed and notarized..
  • It is necessary that the insurance plan indicates the name of the vessel carrying the exported goods and that it is identical to the name mentioned in the B/L (Bill of Lading) and the description of the goods shall correspond to the description in the B/L or the invoice..
  • The place of payment shall be as stated in the letter of credit.

Further information may be found via the following link: bit.ly

The Lebanese Customs Administration requires certain documents from export license applicants in order to complete the customs clearance process, and among these required documents

  • Health certificates.
  • Certificates of components.
  • Customs control declaration
  • Pre-shipment inspection certificates
  • Packing certificates
  • Quarantine certificate

Further information may be found via the following link: bit.ly

  • Obtaining customs approval for export documents from the moment the export declaration is completed..
  • The Lebanese customs law may be accessed via the following link:: www.lebanesecustoms.gov.lb
  • You may also access the table of restrictions and prohibitions related to import and export provided by the Lebanese Customs Administration via the following link: www.customs.gov.lb

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