International Trade Terms Glossary

Proforma Invoice

Sellers are often requested to submit a Pro-forma Invoice with or instead of a quotation. It is a quotation in invoice form and is provided prior to the actual shipment of merchandise for the purpose of documenting to a customer the cost of the merchandise, as well as such charges as freight and insurance. The document is customarily used by the potential purchaser in a applying for letter of credit, import licence or foreign exchange allocation. It should be marked conspicuously with the words **Pro-forma Invoice** to avoid confusion with an actual invoice.

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