Propuesta de Circular sobre la aceptación forzosa de billetes y monedas establecida en la Ley Orgánica del Banco Central de Reserva del Perú[Proposed Circular on the mandatory acceptance of banknotes and coins for the payment of obligations established in the Organic Law of the Central Reserve Bank of Peru]

It is proposed that the BCRP, within the regulatory and interpretive powers granted by its Organic Law, issue normative provisions -through a Circular- that regulates and specifies the scope of the BCRP's Organic Law on the mandatory acceptance of cash in order to reinforce the current regulatory framework, contributing to granting legal certainty to cash payments, achieving a balance between the protection of consumer rights and the functionality of the national monetary system, with the protection of the right to freedom of contract and freedom of enterprise. The proposed provisions seeks the following objectives: a) reinforce the mandatory acceptance of cash as a means of payment, b) prohibit a priori restrictions on the acceptance of cash, c) establish legitimate causes for rejection (suspicion of counterfeiting, temporary lack of change, disproportionate denomination of the banknote compared to the purchase amount), and d) reconcile consumer rights with freedom of contract and enterprise (acceptance by contract of payments other than cash, distance payments excluded from the use of cash).