Exchange Settlement Memo

Exchange Settlement Memo is a document issued by a bank when a foreign trade enterprise handles export foreign exchange collection and settlement, proving that funds have been converted into RMB at the exchange rate of the day. It records the settlement amount, exchange rate, handling fees, and credited account number, and is a key document for export tax rebates, foreign exchange verification, and financial bookkeeping. Usage scenarios include: enterprises need to settle foreign exchange into RMB after receiving it, submit it to tax authorities when applying for export tax rebates, or prove to overseas customers that payment has been received. Notes: The exchange rate on the memo is the actual settlement rate, which may differ from the central parity rate; verify whether the payer matches the contract buyer, otherwise it may affect the tax rebate; if it is a partial settlement, the memo amount corresponds only to part of the payment. Difference from 'Foreign Exchange Receipt Memo': the receipt memo only proves that foreign exchange has arrived and has not been settled; the settlement memo indicates that local currency conversion has been completed. Difference from 'Bank Receipt': a receipt may only record a transfer and does not reflect the settlement exchange rate and local currency amount. Foreign trade practitioners should properly keep the original settlement memo and ensure it matches the customs declaration and invoice information to smoothly process tax rebates.