Interim Commercial Invoice Clause Samples
The Interim Commercial Invoice clause establishes the use of a provisional invoice to document and request payment for goods or services delivered before the final invoice is issued. Typically, this clause allows the seller to bill the buyer for partial shipments, work completed to date, or estimated amounts when the full scope of delivery or service is not yet finalized. By enabling interim billing, the clause helps maintain cash flow for the seller and provides the buyer with a record of ongoing transactions, addressing the need for timely payments and financial transparency during extended projects or phased deliveries.
Interim Commercial Invoice. 9.6.1 Upon receipt of the full set of clean on board Bills of Lading for a Shipment, the Seller shall issue a signed commercial invoice (the “Interim Commercial Invoice”) for the amount payable for the Shipment showing the basis on which the amount payable for the Shipment has been calculated. The amount of the Interim Commercial Invoice shall be calculated as follows: ICI = Price x (Loading Port CV NAR/Benchmark CV NAR) x Shipment Tonnage Where:
