Regulatory Alerts2012-11-27 | SGDB N° 052/2012Added · Updated
SGDB N° 052/2012 - New Check Regulation
The Central Bank of Bolivia approved the New Check Regulation, which establishes the conditions for the use and acceptance of checks as a payment instrument, regulates special checks, and sets processing requirements for Electronic Clearing Houses. The regulation mandates that financial entities retain checks rejected due to written notification of non-payment, defines specific rejection causes and partial payment procedures, and imposes security and formatting standards for check forms. It applies to financial intermediation entities, Electronic Clearing Houses, the Central Bank, and individuals or legal entities using checks.
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