The regulation of spatial activities has been widely studied and its importance demonstrated in multiple occasions. Nevertheless, in the developing countries without experienced in space affairs, this problematic is not necessarily known. A very clear example is treated in this paper, the case of the project of purchase of a telecommunication satellite by the Colombian State (SATCOL). The absence of a specific legislation for the acquisition of spatial assets made the project fail, taking into account that the conditions of insurances, responsibility, social security imposed by the general public procurement regulation were inappropriate. The following study demonstrates that the space procurement regulation adopted after the SATCOL failure, the decree 1340 of 2010, was no more than a transitory remedy that does not take into account all the necessary elements to ensure the purchase of space assets and that it is necessary to create a real and complete regulation on this topic, that it is in agreement with the international principles of Space Law. Such a regulation would be a element to ensecure the contractual relation between the Government and the private partners, inciting companies to participate to Colombia’s future space projects and by the same time would protect the Colombian State against its own lack of experience in space matters.