外汇结算
Foreign exchange
(1) International trade settlement, or import and export trade settlement, refers to the settlement of creditor's rights and debts between domestic enterprises and institutions in the commodity import and export business with foreign entities and individuals.
(2) International non-trade settlement refers to domestic enterprises, institutions and agencies, organizations, troops and other units engaged in economic, cultural and political exchange activities other than commodity trade, such as labor export, international tourism, technology Settlement business of creditor's rights and debts related to transfers and remittances and donations of expatriates.
(3) International financial settlement refers to the settlement business of creditor's rights and debts that occur due to domestic enterprises and institutions engaging in international financial transaction activities, such as foreign investment, foreign financing, and foreign exchange trading.
Compared with domestic settlement, foreign exchange settlement has the following characteristics:
Internationality
Although in general, the purpose of settlement is to solve the credit and debt problems of both parties to the transaction, the main reason for domestic settlement is the economic activities between domestic units and individuals, and the reason for foreign exchange settlement is domestic Economic activities between units and individuals and foreign units and individuals. Therefore, domestic settlement is limited to the country, and its creditors, debtors and intermediaries are all located in the country. What it reflects is only the credit and debt relationship between domestic units, and the relevant domestic laws and regulations apply; while the creditors, debtors and Intermediary agencies are usually located in different countries and regions. This reflects the debt and debt repayment relationship between different countries. The guidelines and principles it follows must be internationally accepted and not only prescribed by domestic laws.
Creditability
Although bank credit and commercial credit are widely used in domestic settlement, cash settlement also accounts for a certain amount of domestic settlement, and some settlements are not based on credit. In international settlement, no matter what settlement method is adopted, it must be based on and premised on a credit intermediary, and all settlements are conducted through banks. Almost all settlement business is transfer settlement, and the main tools in settlement are promissory notes, money orders, checks and other credit instruments.
Complexity
Although domestic settlements also have problems in different periods and locations, domestic settlements all use the national currency, and its currency value generally does not change significantly in the short term, so it is relatively simple; therefore, it needs to be considered during settlement. The issue of price ratios (ie exchange rates) between different currencies is therefore somewhat complicated.