Document background
Commercial Invoice And Proforma Invoice documents are fundamental to Nigerian trade operations, serving distinct but related purposes. The Commercial Invoice is a legally binding document that represents the final sale of goods or services, while the Proforma Invoice serves as a preliminary quote or good-faith estimate before the final transaction. Both documents must comply with Nigerian legislation, including the Customs and Excise Management Act, Value Added Tax Act, and Foreign Exchange regulations. They are essential for international trade, customs clearance, tax documentation, and foreign exchange transactions. These documents include crucial information such as seller and buyer details, product specifications, pricing, payment terms, and shipping arrangements. They are particularly important for Nigerian businesses engaged in international trade, as they facilitate customs clearance, demonstrate compliance with local regulations, and serve as supporting documents for foreign exchange transactions through Nigerian banks.
