Board Resolution No. 070/2013: Approval of Modifications to the Internal Regulation for Operations through SUCRE

BOARD RESOLUTION No. 070/2013
SUBJECT: INTERNATIONAL OPERATIONS MANAGEMENT — APPROVES MODIFICATION TO THE INTERNAL REGULATION FOR OPERATIONS THROUGH SUCRE.

HAVING SEEN:

The Law No. 1670 of October 31, 1995 of the Central Bank of Bolivia.
The Statute of the BCB approved by Board Resolution No. 128/2005 of October 21, 2005 and its modifications.
The Constitutive Treaty of the Unitary System of Regional Payment Compensation (SUCRE) signed on October 16, 2009.
Law No. 016 of May 24, 2010.
Board Resolutions Nos. 103/2010, 113/2010 and 196/2012 of September 14, 2010, October 5, 2010 and November 20, 2012 respectively.
The Report from the International Operations Management BCB-GOI-SOEXT-DOCC-INF-2013-16 of June 20, 2013.
The Report from the Legal Affairs Management BCB-GAL-SANO-INF-2013-213 of June 20, 2013.

CONSIDERING:

That through Board Resolution No. 103/2010, the Internal Regulation for operations through SUCRE was approved.
That through Board Resolutions No. 113/2010 and No. 196/2012, modifications to the Internal Regulation for operations through SUCRE were approved.
That the Report BCB-GOI-SOEXT-DOCC-INF-2013-16 from the International Operations Management recommends that modifications be made to the aforementioned Regulation. That the Report BCB-GAL-SANO-INF-2013-213 from the Legal Affairs Management states that there is no legal impediment for the Board to consider the modification to the Internal Regulation for operations through SUCRE. That in accordance with article 54 subsection o) of Law No. 1670 and article 11 numeral 29) of the BCB Statute, the Board is authorized to approve, interpret and modify the Statute and Regulations of the Institution by two-thirds of the votes of all its members, without the need for any additional administrative act.

THEREFORE,

THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA

RESOLVES:

Article 1.- Modify article 6 (Admissible Payments) of the Internal Regulation for operations through the Unitary System of Regional Payment Compensation (SUCRE):

SAYS:

Payments corresponding to goods trade operations and their associated services and financial operations derived from commercial operations, previously agreed upon between the State Parties of SUCRE, shall be admitted.

Payments for commercial operations that contemplate an advance payment of the export are permitted.

In order for a payment to be effected through the SUCRE CCC, the BOAs must:

• In the payment method established in the terms and conditions of the Purchase-Sale Contract, indicate that the payment will be made through the SUCRE CCC.
• In the trade instruments to be used (letters of credit or Payment Orders), mention in the payment method: payable through the SUCRE CCC.

SHOULD SAY:

Payments corresponding to goods trade operations and their associated services and financial operations derived from commercial operations, previously agreed upon between the State Parties of SUCRE, shall be admitted.

Payments for export commercial operations of enterprises and tariff codes expressly authorized by the Ministry of Productive Development and Plural Economy-Vice Ministry of Internal Commerce and Exports and/or PROMUEVE-Bolivia are permitted exclusively.

In order for a payment to be effected through the SUCRE CCC, the BOAs must:

• Verify that in the payment method established in the terms and conditions of the Purchase-Sale Contract, it is mentioned that the payment will be made through the SUCRE CCC.

• Verify that in the trade instruments to be used, the payment method is mentioned: payable through the SUCRE CCC.

Article 2.- The Presidency and the General Management are charged with the execution and compliance of this Resolution.

La Paz, June 25, 2013