Payment Terms for Importing from Sri Lanka: LC, TT & Bank Transfer

Giugno 15, 2026

By the SriLankaExport.com Trade Desk · researched & fact-checked against primary sources

How you pay matters as much as how much you pay. The right payment method balances your risk (paying for goods you haven’t received) against the exporter’s risk (shipping goods they haven’t been paid for). This guide explains the methods used when importing from Sri Lanka and when each makes sense.

The Main Methods

Method	How it works	Best for
Bank transfer (TT / SWIFT)	Wire to the exporter’s Sri Lankan bank; often deposit + balance	Most B2B orders; staged payments
Letter of Credit (LC)	Your bank guarantees payment on presentation of compliant shipping docs	Larger orders, new relationships
Documentary collection (D/P, D/A)	Banks exchange docs for payment/acceptance	Established relationships
Card	Card payment through Stripe for smaller orders	Samples, small first orders

Staged Payments Are Your Friend

A common, fair structure for a B2B order is a deposit (e.g. 30%) to start production and the balance against shipping documents (bill of lading, invoice, packing list, COA). This shares risk: the exporter commits materials on the deposit; you release the balance only once the goods are demonstrably shipped. Avoid 100% upfront to a brand-new supplier.

Letters of Credit, Briefly

An LC substitutes your bank’s creditworthiness for your own: the exporter gets paid by the bank when they present documents that exactly match the LC terms. It protects both sides but costs bank fees and rewards precision, a single document discrepancy can delay payment. For first-time large orders, an LC is often worth the cost.

Currency & Settlement

Sri Lankan exporters typically invoice and settle in USD. Confirm the beneficiary name matches the registered company (a mismatch is a red flag, see our supplier vetting guide). On SriLankaExport, bank transfer is supported today, with wire instructions issued on every confirmed order; card payments via HNB IPG are being added.

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SriLankaExport.com Trade Desk

Export specialists at Harker International (Pvt) Ltd, Kandy, Sri Lanka. Every guide is researched and verified against customs tariffs, EDB data and the relevant international standards. Our editorial standards & team →