Commercial vs Proforma Invoice in Letter of Credit Transactions
How a proforma invoice and a commercial invoice differ in a Letter of Credit transaction, and which one the bank needs.
Reviewed by LCCheck team (owner-approved) · 2026-10-12
Short answer
A proforma invoice is a preliminary quote the buyer often uses to apply for the Letter of Credit. The commercial invoice is the final billing document presented to the bank after shipment. Unless the credit says otherwise, a document titled 'proforma', 'provisional' or similar is not acceptable where a commercial invoice is required (ISBP 821).
| Proforma | Before issuance; quote for the buyer and bank |
|---|---|
| Commercial | After shipment; presented to the bank |
| Proforma accepted as invoice? | No, unless the credit allows |
Using the proforma well
- Make it match the sales contract exactly.
- Include the documents and terms you can meet.
- It often becomes the basis of 45A.
At presentation
- Title the document as the credit requires.
- Mirror 45A, not the proforma, if they differ.
Sources
- ICC — UCP 600 (Uniform Customs and Practice for Documentary Credits)
- ICC Academy — avoiding Letter of Credit discrepancies
General guidance, not legal advice. Your bank examines documents independently.
Related guides
Check document consistency
Free snapshot in under a minute. No account needed.
Upload your Letter of Credit
PDF · up to 25 MB