Export Collection Verification Form

The Export Proceeds Verification Form was the core certificate of the export proceeds verification system implemented by the State Administration of Foreign Exchange (SAFE) of China from 1991 to 2012. The form was uniformly printed by SAFE. Export enterprises had to apply to SAFE for the form before exporting goods, and submit it to customs during export declaration; customs would endorse the form and return it to the enterprise. After export, the enterprise had to repatriate the export proceeds within the prescribed time limit and, with the bank-issued foreign exchange receipt slip and the customs-endorsed verification form, go to SAFE to complete the verification procedure to prove that the export proceeds had been received. The system was designed to supervise export proceeds and prevent foreign exchange losses and evasion. Its main use scenario was verification of export proceeds under general trade. Precautions included: the form must be kept properly and reported immediately if lost; the verification period was usually within 210 days after export; different trade modes (such as processing with imported materials, returns, etc.) had different verification requirements. Difference from other terms: the Export Proceeds Verification Form was the certificate of the verification system, while the Export Declaration Form is a customs supervision certificate; from August 1, 2012, China abolished the Export Proceeds Verification Form and replaced it with an export proceeds verification and inspection system, so enterprises no longer need to go through verification procedures. Therefore, this term is now historical, but it is still commonly seen in old documents and literature.