At present, the basic forms of foreign exchange mainly include foreign currency payment certificates, foreign currency securities, foreign currency deposits, foreign currency cash and other foreign exchange funds.

Foreign currency payment voucher refers to a document with a certain format and a certain amount expressed in foreign currency, which is paid to the payee at the time of presentation or on the designated expiration date at the designated place by the invoicer or an entrusted person as the payer. Written evidence of unconditional payment by the person or bearer.

Elements of foreign currency payment vouchers

Foreign currency payment vouchers for foreign exchange must have three elements:

1. Have a real basis of claims and debts.

2. The currency indicated on the face of the ticket must be a convertible currency.

3. It is a country’s foreign exchange assets that 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, cashier's checks, checks, credit cards and other payment instruments.

1. Bill of Exchange or Draft is a written order issued by the invoicer that requires the payee to unconditionally pay a certain amount to the designated person or holder according to the agreed payment period. Bills of exchange are usually drawn by creditors, such as exporters, creditor banks, etc.

2. Promissory Note is a written commitment issued by the invoicer to the payee or bearer to unconditionally pay a certain amount on a specified maturity date. The invoicer here is generally the debtor. .

3. Check (Oheque or Check) is a written order issued by the invoicer to the payee entrusting the bank to unconditionally pay a certain amount after seeing the check.

It can be seen from this definition that checks are similar to the aforementioned bills of exchange. They are both written orders issued to require the payee to pay. However, there are still some differences between the two types of bills: first, the invoice is different, and the invoice of the bill of exchange is different. The person is the creditor, and the check is generally the debtor; secondly, the check must be made to the bank as the payee, while the payee of the bill can be the bank or other parties. Finally, the check requires the payee to pay upon sight, so the check only functions as a payment instrument, while the bill does not necessarily require the payee to pay upon sight, so the bill not only functions as a payment instrument, but also functions as a credit instrument: for example When the seller issues a bill of exchange with payment within 180 days, it is equivalent to giving the other party six months of short-term financing.

4. Credit Card is a credit card provided by a credit institution to customers with certain credit. Currently, the more popular credit cards in the world include Bank of America, MasterCard and American Express.

The above payment voucher can be issued by the bank or by the party concerned (i.e. the customer of the bank). The payment voucher issued by the bank can be regarded as an absolute guarantee of payment, because if the payment voucher issued by the bank is bounced without justifiable reasons, it means that the bank has lost the credit of the intermediary for moving international funds and cannot maintain its credibility. domestic and international status. Payment vouchers issued by persons other than banks are not an absolute guarantee of payment: payment may sometimes be dishonored, as is the case with "bad checks" issued by private individuals.