Singapore
Legal Templates
Commodity Invoice

Commodity Invoice Template for Singapore

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Key Requirements PROMPT example:

Commodity Invoice

"Need a Commodity Invoice for the sale of 5000 metric tons of iron ore to a Singapore-based buyer, including quality certification requirements and payment terms of 30 days from bill of lading date, with delivery scheduled for March 2025."

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What is a Commodity Invoice?

The Commodity Invoice is a crucial document in Singapore's commodity trading landscape, used to formalize and record transactions involving physical commodities. This document type is essential for regulatory compliance, tax purposes, and international trade documentation. It must comply with Singapore's stringent commercial laws and GST requirements while providing comprehensive details about the transaction, including product specifications, pricing, payment terms, and delivery arrangements. The Commodity Invoice serves as both a payment demand and a legal record of ownership transfer.

What sections should be included in a Commodity Invoice?

1. Invoice Number and Date: Unique identifier and date of issue as required by Singapore law

2. Seller Details: Complete business information including company name, registration number, address, and GST registration number if applicable

3. Buyer Details: Complete business information of the purchaser including company name, registration number, and address

4. Commodity Details: Detailed description of goods, quantity, unit price, and total amount for each item

5. Payment Terms: Payment conditions, due date, and banking details for settlement

6. GST Details: GST calculation, registration number, and applicable rates as per Singapore tax requirements

What sections are optional to include in a Commodity Invoice?

1. Shipping Terms: INCOTERMS and shipping arrangements for international transactions

2. Insurance Details: Insurance coverage information and policy details for goods in transit

3. Currency Exchange Terms: Exchange rate information and currency conversion terms for international transactions

4. Special Handling Instructions: Specific requirements for handling, storage, or transportation of the commodities

What schedules should be included in a Commodity Invoice?

1. Quality Certificate: Documentation certifying the quality standards of the commodities

2. Packing List: Detailed list of packaged items including weights and dimensions

3. Inspection Certificate: Third-party inspection results and verification documents

4. Weight Certificate: Official weight measurement documentation from authorized weighing facility

5. Certificate of Origin: Documentation proving the origin country of the goods

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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alex.den.21@genieai.co
Industries

Sale of Goods Act (SOGA): Primary legislation governing the sale of goods in Singapore, defining rights and obligations of buyers and sellers

Goods and Services Tax Act: Legislation governing the application and administration of GST on goods and services in Singapore, including invoicing requirements

Electronic Transactions Act: Legislation providing legal foundation for electronic transactions and digital signatures in Singapore

Regulation of Imports and Exports Act: Controls and regulates the import and export of goods in Singapore, including documentation requirements

Customs Act: Governs customs operations, duties, and procedures for goods entering or leaving Singapore

Strategic Goods (Control) Act: Regulates the transfer and brokering of strategic goods, including documentation requirements for controlled items

INCOTERMS: International Commercial Terms that define responsibilities of buyers and sellers in international trade transactions

UN Convention on Contracts (CISG): International sales law that may apply to cross-border transactions involving Singapore parties

Income Tax Act: Governs taxation matters including treatment of international trade transactions and record-keeping requirements

MAS Currency Regulations: Monetary Authority of Singapore regulations governing currency transactions and international payments

Anti-Money Laundering Regulations: Requirements for preventing and detecting money laundering in international trade transactions

GST Registration Requirements: Specific requirements for GST registration and compliance for businesses engaged in commodity trading

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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