The Central Bank of Costa Rica announced the implementation of a new standardized local master agreement for bilateral transactions with financial derivatives.
This tool seeks to strengthen risk management and stimulate the development of the domestic financial market.
The document was prepared in conjunction with the International Finance Corporation of the World Bank Group and with the participation of national and international financial institutions and legal advisors.
The new contract conforms to international standards and the Costa Rican legal framework, providing a solid and secure basis for negotiations between local counterparties and reducing legal uncertainty.
The initiative is supported by the Costa Rican Banking Association and the Chamber of Banks and Financial Institutions.
The contract and an explanatory document are now available on the website of the Central Bank of Costa Rica.
This is a news service prepared by ICS. For more information about the story, write to info@ics.cr or call 2519-9992 ICS, tax specialists.