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Copyright © International Chamber of Commerce (ICC). All rights reserved. ( Source of the document: ICC Digital Library )
Sri Lanka is using letters of credit (L/Cs) to ensure that imported used vehicles meet the country's new emission standards.
Second hand vehicles imported on L/Cs opened after new legislation on emissions was introduced in July must be rigorously tested and importers must obtain appropriate certification.
Cut-off date
Vehicles imported on L/Cs opened after 13 July 2018 must undergo a pre-shipment emission inspection and certification, according to the authorities.
Motor vehicles that do not comply with the new emission and safety standards will be re-exported by the importer at its own cost.
New motor vehicles and second hand vehicles imported on L/Cs before 13 July 2018 are exempt from the ruling.
L/C instructions
In an extraordinary notice published in Sri Lanka's official gazette, the authorities warned against tampering with L/Cs. "Such L/Cs shall not be amended," it declared.
Motor vehicles imported on L/Cs issued before 13 July 2018 must be cleared from Sri Lanka Customs on or before 31 October 2018, the gazette added.
This article represents the views of the author and not necessarily those of the ICC or Coastline Solutions.