Proforma invoice (PI)

What is Proforma invoice?

A pre-shipment quotation in invoice form covering products, quantities, unit prices, Incoterms, payment terms and validity. It is what the buyer signs to confirm an order and what the bank uses to open an L/C. It is not a customs document — that is the commercial invoice issued at shipment.

At a glance

Category

Trade & logistics

Also known as

PI · 견적 송장

Korean term

견적 송장

Last reviewed

July 23, 2026

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