Closure of export obligation defaults by payment of customs duty with capped interest, interest payable in cash, deadline imposed. An option is provided to regularise past defaults in Export Obligation by payment of the corresponding customs duty for the shortfall together with interest calculated from the date of import to date of payment, with interest capped so it does not exceed the customs duty payable. Customs duty may be paid in cash or by debiting valid duty credit scrips, but the interest must be paid in cash. Payment must be completed by 31 March 2014 and separate procedural and reporting instructions will be issued.