More than 9000 commodity numbers are used by customs officials around the globe in determining the duties, taxes and regulations applicable to each product. The SED is used by the Bureau of Census to track exports by specific product for statistical purposes. Bill of Lading. This is actually a contract between the carrier and the seller. A straight bill of lading is non-negotiable, but the negotiable or shipper's order bill of lading can be bought, sold, or traded while goods are in transit and used for letter of credit transactions.
Buyers use the document as proof of ownership when taking possession of the goods.
A commercial invoice describing the contents is necessary for both importer and exporter. In addition, it shows the payment terms and delivery terms and addresses of the shipper and seller. Exporters use the invoice to prove ownership and secure payment. The description of goods must exactly match the letter of credit or other documents required for payment. Some government agencies use this invoice to assess customs duties.