A foreign currency payment voucher refers to a written voucher with a certain format and a certain amount, which is expressed in foreign currency and unconditionally paid to the payee or holder at the designated place at the time of sight or the designated maturity date.
Elements of foreign currency payment voucher
A foreign exchange payment voucher must have three elements:
1, with real credit and debt basis.
2. The currency indicated on the face must be convertible.
It is a country's foreign exchange assets, which can be used to repay international bonds.
Types of foreign currency payment vouchers
The commonly used foreign currency payment vouchers in the world mainly include: bills of exchange, promissory notes, checks, credit cards and other payment instruments.
1. A bill of exchange or bill of exchange is a written order issued by the drawer, requiring the payer to unconditionally pay a certain amount to the designated person or holder according to the agreed payment period. Bills of exchange are usually issued by creditors, such as exporters and creditor banks.
2. A promissory note is a written promise issued by the drawer to the payee or the holder, which guarantees to pay a certain amount unconditionally on the specified maturity date, in which the drawer is generally the debtor.
3. A check (Oheque or CHECK) is a written order issued by the drawer to the payee to entrust the bank to pay a certain amount unconditionally after seeing the ticket.
From this definition, we can see that checks are similar to the above-mentioned bills of exchange, both of which are written orders issued to ask the payer to pay, but there are some differences between the two bills: first, the drawer of the bill is the creditor, while the check is generally the debtor; Secondly, the cheque must be paid by the bank, and the drawee of the bill can be the bank or other parties. Finally, the check requires the payer to pay at sight, so the check only acts as a payment tool, while the draft does not necessarily require the payer to pay at sight, so the draft not only functions as a payment tool, but also acts as a credit tool: for example, the seller draws a draft of 180 days, which is equivalent to giving the other party 6 months of short-term financing.
4. Credit card is a credit card provided by credit institutions to customers with certain credit. At present, the most popular credit cards in the world are American Bank Card, MasterCard and American Express.
The above payment voucher can be issued by the bank or by the customer (that is, the customer of the bank). For the payment voucher issued by the bank, it can be regarded as the guarantee of absolute payment, because if the payment voucher issued by the bank is refunded without justifiable reasons, it shows that the bank has lost the credit of the intermediary who moves international funds, and thus cannot maintain its position at home and abroad. For payment vouchers issued by people outside the bank, it is not a guarantee of absolute payment: sometimes they may be rejected, such as "bad checks" issued by private people.