An appeal was filed by the BFF in March after FIFA's Disciplinary Chamber ordered the results of Bolivia's match against Peru at the Estadio Hernando Siles in La Paz on September 1, which they won 2-0, and the 0-0 draw with Chile in Santiago five days later be expunged.

FIFA said Paraguayan-born defender Nelson Cabrera, a late substitute in both matches, was not eligible to play for Bolivia.

Cabrera fulfilled Bolivian requirements for nationalisation, having lived in the country for three-years.

FIFA rules require a five-year term of residence, however.

World football's governing body said both matches would be forfeited after Chile and Peru complained about Cabrera, capped once by Paraguay in 2007.

The BFF then appealed to CAS in a bid to regain the four points they earned from the two games.

According to the CAS, the BFF accepted in the court hearing that Cabrera was not eligible under FIFA regulations.

Instead, Bolivia questioned if FIFA were allowed to launch their own probe into the issue a month after the matches took place.

Official protests at next year's World Cup in Russia have to be filed within an hour of the full-time whistle.

It prompted the BFF to claim there were "inconsistencies" between the FIFA Disciplinary Code and the Russia 2018 World Cup regulations.

CAS rejected this argument, however, and ruled "FIFA had the right to initiate ... disciplinary proceedings against Bolivia under the FIFA Disciplinary Code within a time limit of two years".

"In the parties’ written submissions, and at the hearing, it was not disputed that Nelson Cabrera did not meet the eligibility criteria to play for the national team of Bolivia," CAS said in a statement. 

"Rather, the BFF questioned the validity of FIFA’s right to initiate an investigation into the matter and argued that there were inconsistencies between the FIFA Disciplinary Code and the Russia 2018 World Cup regulations, the latter regulations providing that official protests must be submitted within an hour ofthe match in question."

The verdict has an impact on the current South American qualification process.

The team who are most affected aside from Bolivia, who now cannot mathematically qualify, are Argentina, fifth in the 10-team qualifying group.

Bolivia being forced to forfeit the 0-0 draw with Chile hands their opponents an extra two points.

Chile occupy fourth place, the last automatic qualification spot, and now lead Argentina by one point.

The fifth-placed team in South American will play an intercontinental play-off New Zealand or Solomon Islands for a World Cup place.