COMMERCIAL INVOICE Definition

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COMMERCIAL INVOICE, generally, is the sellers bill of sale for the goods sold, specifying type of goods, quantity and price of each type and terms of sale. In import/export, it represents a complete record of the transaction between exporter and importer with regard to the goods sold. Also reports the content of the shipment and serves as the basis for all other documents about the shipment.

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PIERCING THE CORPORATE VEIL is a legal concept through which a corporations shareholders, who generally are shielded from liability for the corporations activities, can be held responsible for certain actions.

FACTOR is the proportion of the outstanding principal balance of a mortgage or asset-backed security to its original principal balance expressed as a decimal.

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