(A) All banks shall assign a unique number to each transaction and notify the Sri Lanka Customs Department of all information regarding each transaction relating to, or made under, the number so assigned.
(B) Every Importer shall declare the unique number assigned under regulation 4 above when submitting the CUSDEC for the clearance of cargo.

(C) Payment terms for imports may, for the purposes of these regulations be classified as;
  1. Payment made prior to the date of submission of the required Customs Declaration (hereinafter in this regulation referred to as “CUSDEC”) to the Director – General of Customs, where imports are made on the basis of payment terms relating to Advance Payment (Cash in Advance), Documents against Payment, Documents against Acceptance and Letters of Credit, of a combination of these;
  2. Payment made subsequent to the submission of the CUSDEC to the Director – General of Customs, in respect of imports made under Payment Terms relating to Open Account Basis and Consignment Account Basis;
  3. Payment made by adopting a mode of payment comprising a combination of (a) and (b) above.
(D) The choice and technicalities of the Payment Terms to be adopted in respect of any particular import is a matter to be decided as between the person who is the Supplier and the Importer of the goods and the relevant licensed commercial bank (hereinafter referred to as “the Bank”).