The fight for independence re-started after the Battle of Ayacucho, on December 9, 1824, as part of Bolívar's War in the Republican Campaign when Antonio José de Sucre's republican army of 5,700 defeated José de La Serna's Royal army of 6,500 royalist (500 Spaniards soldiers). The republicans suffered more than 1,000 casualties as compared to more than 2,000 Royalist casualties and more than 2,000 captured, among them La Serna. The Spanish surrender came after the battle.
After Ayacucho, the royalist troops of Pedro Antino Olañeta surrendered after Olañeta suffer and assassinate died in Tumusla, Bolivia, 2 April, 1825. It was Sucre who made the Declaration of Independence in the city which to this day bears his name.
The country was named Bolivia, after Simon Bolivar, on August 6, 1825.
This statue, carved in wood represent Simon Bolivar, the bolivian liberator.
A copy of the Bolivian declaration of independence is viewable here.
More documents of the declaration.