L/C Documentation Services for Sri Lanka
Auction House Japan ensures the provisions of all documents without any delays, in order to protect the importer from any additional charges arising due to delays.
L/C Regulations for Sri Lanka:
Based on the instructions of the regulatory authorities of
Sri Lanka, following regulations have to be followed:
1. All foreign exchange remittances must be made through L/C.
2. Letter of Credit must be established prior to the shipment of the goods.
The documentation requirements vary from bank to bank. Some of the major documentation requirements of banks in Sri Lanka are:
- Commercial Invoices manually signed
- Import License No
- Insurance Policy or Certificate
- Certificate of Origin
- Packing lists
- Other Documents as per the policy of the Bank
The cost of opening an L/C depends on the bank, imports value of good and type of L/C.
Shipping Guarantee Charges: 0.3% of the Invoice Value (Minimum LKR 2500)
0.375% of the Invoice Value (Minimum LKR 5000)
Delivery Orders: LKR 2500
- LC Opened Client sends the documents as per the requirement of the bank
- AHJ Receives LC Auction House Japan receives the L/C from the Bank.
- Shipment AHJ will arrange shipment as soon as the L/C is opened.
- Shipment Documents AHJ will send the shipment documents to client’s bank.
- Payment Released Payment for the purchased vehicle is released by client’s bank.
- Unit Delivered Unit is delivered to the destination port as per the schedule.