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90% payment against PI balance and 10% against SRN. in this
statement what is PI & SRN.
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Answer Posted / rajesh verma
It question basically depend upon the payment terms of the
company. 90% payment against PI means Proforma Invoice, that
means completed payment structure like bills sent to
purchaser from seller than base of this Proforma, purchaser
make ready the payment and when finished good reached the
destination than seller person give the PI chq to related
courier/cargo agent of seller, they return to seller.
SRN means when purchaser accepted the good after inspection
than he will release the balance 10% payment, if goods is as
per their specification.
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