Regulatory Alerts2022-03-10 | CIEX N° 8/2022Added · Updated
CIEX No. 8/2022: Procedure for the Purchase of Gold for International Reserves
The Central Bank of Bolivia establishes the detailed procedure for state mining enterprises to sell gold bars for international reserves, requiring specific documentation including validated forms, laboratory certificates, and official identification prior to delivery. The process mandates secure receipt, permanent filming, and the taking of three samples per bar for purity analysis, custody, and potential arbitration, with an acceptable error margin of 0.5% for purity tests. Payment is executed based on the final liquidation act after purity confirmation, and disputes regarding purity results are resolved through third-party international laboratories, with costs borne by the party whose result deviates most from the binding test.