PI
What is a Proforma Invoice (PI)? When to use it
A Proforma Invoice (prefix PI) confirms deal details for the buyer and supports wire-transfer (T/T) applications to banks. It is closer to a firm invoice than a quotation, but is usually issued before shipment — not the same as the customs Commercial Invoice.
PI vs quotation
Quotations focus on inquiry and negotiation; PI is issued once terms are largely agreed, with firmer amounts and full bank details. Many buyers require “Proforma Invoice” wording and a PI number for finance approval.
Bank and terms on PI
Beyond lines and totals, PI typically needs: Beneficiary, bank name, account number, SWIFT, bank address — plus Incoterms, payment schedule (e.g. 30% deposit + 70% before shipment), delivery, and port. TradeDocs pulls bank fields from the company profile.
What comes after PI
After deposit, issue a Sales Contract; at or after shipment, a Commercial Invoice (CI) for customs and buyer accounting; a Packing List (PL) for actual cartons. In TradeDocs, all five share one deal — switch tabs to preview.