Payment Methods

There are two methods of payment as follows, you can choose which method need to use.

1. 100% in Local Currency Payment (SLRs.)

Payment will be made to the contractor any amount due in the currencies named in the Appendix to the
Tender.
2. 100% in Foreign Currency Payment (US Dollar)
The exchange rates prevailing on the IPC Certified date and determined by the central bank of the country
shall be applicable.

Example:
Advance Payment Certificate Certified Date: 25th February 2016
Central Bank of Sri Lanka - Exchange Rate

Applicable Currency Rate will be the average rates of Buying rate and Selling rate.
Accordingly, Applicable Currency Rate = (142.37 + 146.40)/2
= 144.385
As per the Certified Payment Certificate Net Payment (Sri Lankan Rupees) have been
convert in to US$ at the Exchange Rate as at 25th February 2016 (1 US$ = Rs.144.385)