Regulatory Alerts2014-07-31 | SGDB N° 026/2014Added · Updated
SGDB No. 26/2014: Requirements for Incorporation into the Integrated Payment Settlement System (LIP)
The Central Bank of Bolivia requires specified payment service providers to submit documentation by August 15, 2014, to access a settlement account and participate in the Integrated Payment Settlement System (LIP). The required documents include a settlement account opening request, the Participation Contract, legalized powers of representation with specific clauses for fund transfers and digital certificates, and proof of tax identification and company registration. This action enables these entities to process payment orders through the LIP, which replaces the High-Value Payment System (SIPAV) starting August 18, 2014.
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