(A) Section A

      (1) An Importer shall not effect payment for the important of goods under Advance Payment, unless the importer ensures that all goods in respect of which payment is to be made for, are brought into Sri Lanka within a period not exceeding one hundred and eighty days (180) from the date of remittance of such payment:
 
Provided that where the goods, referred to in paragraph (1) of this regulation is “Machinery and Heavy equipment”, such goods should reach the country within a period not exceeding three hundred and sixty five days (365), from the date of remittance of the advance payment.
 
      (2) An Importer shall not effect any payment for the import of goods under a combination of Advance Payment and a Letter of Credit, unless the importer ensures that all goods in respect of which payment is to be made for, are brought into Sri Lanka within a period not exceeding three hundred and sixty five days (365), from the date of remittance of such payment.
 
      (3) Where the enforcement period goes beyond the period which is specified in (1) and (2) above, the goods or part thereof, should be brought into Sri Lanka within the period covered by the Bank guarantee or the standby Letter of Credit as the case may be, or within seven hundred and thirty days (730) from the date of remittance of the advance payment, whichever occurs first.
 
(B) Section B

      (1) No payment should be made on unpaid import bills relating to the goods imported under Documents of Acceptance (D/A bills) after one hundred and eighty days (180) from the date of maturity, without the prior written permission of the Controller of Imports and Exports having been obtained in respect of such payments.
 
      (2) It shall be the duty of every Bank to furnish details of unpaid import bills relating  to goods imported under Documents of Acceptance (D/A bills) on a monthly basis to the Controller of Imports and Exports, where such bills are not settled by the Importer within one hundred and eighty days (180) days from the date of maturity.