What do I Need to Include on an Invoice

What you include on your invoice can impact on your ability to make a claim - here are the key items you should include on your invoice

The parties involved (your business & your buyer)

The business or company receiving payment needs to be identified on the invoice. The name must match the name on the Trade Credit Insurance policy or one of your joint insureds.

Similarly, the invoice needs to state who is being invoiced for payment (your buyer). If you don’t identify the buyer then you cannot claim non-payment of the goods or services received.

To avoid any doubt, include a unique identifier such as a company registration number

The amount due

Your customer needs to know how much they owe you

Trading terms

It is preferable that every invoice stipulates the terms on which trade is conducted.

These terms will be used to determine whether trade fits within the Maximum Credit Terms on your policy.

The Delivery Terms

You and your customer need to know the delivery terms and who is responsible for costs of delivery. Refer to the International Chamber of Commerce INCOTERMS rules for guidance.[link]

The due date

This tells your buyer when they need to make payment for the goods or services received.

Our policy allows you to trade to your Maximum Extension Period (MEP). The start and end of your MEP is determined by the invoice due date. 

If an invoice does not have clear trading terms, a due date is required.

Date of invoice and date services were provided OR date of despatch

This helps determine when cover commences under your policy

Description of goods and services

The description of goods or services received needs to fit within the trade description you’re insured for.

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