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Sri Lanka Interbank US Dollar On-line Payment System / FAQ
Outward shall mean any item presented by originating Banks to LankaClear.
Inward shall mean item received by receiving Banks from LankaClear.
Value date shall mean the date the beneficiary shall be entitled to receive the monetary value.
Settlement Bank carry out the settlement of accounts subject to the availability of funds by debiting or crediting of participant banks’ accounts according to the Net settlement figures provided by LankaClear in respect of each participating bank, on the value dates specified by LankaClear.
NOSTRO account shall mean a bank account held in a foreign country by a domestic bank, denominated in the currency of that country. Nostro accounts are used to facilitate settlement of foreign exchange and trade transactions.
Same day clearing only in session 2 and any session accept T+1 to T+2 value dated transactions.