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The seat, Cochabamba, is the only thing that has been decided by the treaty.

The South American Parliament is a proposed body of the Union of South American Nations (Unasur). The Constitutive Treaty of Unasur does not list it with the other bodies, and does not give any details on its composition. Article 17 states that the Parliament would be located in Cochabamba, Bolivia yet its creation would be subject to an additional protocol. A transitory article states how this protocol would be created; that the members would appoint a "Special Commission" composed of national and regional Members of Parliament who would, meeting in Cochabamba, draft the protocol to be considered at the 4th Summit of Unasur leaders. The protocol would lay out how the Parliament would function and be composed.

In these plots the presidents hold meetings on energy, infrastructure, education and social policies, in addition to defining a transitional formula until the full force of the treaty, which must still be approved by legislatures. There will be annual meetings of foreign ministers will do so every six months. For its implementation, the Bolivian government has budgeted and has launched the start of construction by 2008 with an area of 200 hectares in the Valle Alto area. In this same property is a specialized military academy shall be to preserve the security of Parliament. Other agreements provide that citizens of the twelve countries are moving in the UNASUR space with National Identity Document of each country, which is recognized throughout the Union. The South American Parliament also has the task of leading the development and implementation, in coordination with the Bank of the South, of the new single currency in circulation throughout the region. Thus the Bank of the South, based in Venezuela and sub offices in Buenos Aires and La Paz, in conjunction with the General Secretariat, based in Quito, and now with the South American Parliament, based in Cochabamba, sought the economic balance and social life throughout the continent and establish policies in pro of the future "Ciudadano Americano"(American Citizen)

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