Exchange Receipt Verification Form

The Exchange Receipt Verification Form was the core certificate of the export foreign exchange receipt verification system implemented by China's State Administration of Foreign Exchange (SAFE) from 1991 to 2012. This form was uniformly printed and numbered by SAFE. Export enterprises had to apply to SAFE for the form before customs declaration of exported goods, submit the stub of the verification form to customs during declaration, and after export, within a specified period, go through verification procedures at SAFE using the customs-returned verification form, the verification copy of the customs declaration form, and the foreign exchange receipt certificate issued by the bank, to prove that the export payment had been received on time and in full. Its use scenarios mainly involved general trade exports, processing with imported materials, and other trade modes. Precautions include: the verification form must be kept properly, and if lost, it must be reported promptly; the verification period is usually within 210 days after export; if overdue and not verified, the enterprise will be listed in the 'Overdue Export Foreign Exchange Receipt Verification List,' affecting subsequent export tax rebates and foreign exchange business. Difference from other terms: the Exchange Receipt Verification Form is a foreign exchange management tool, while the export tax rebate form (such as the tax rebate copy of the customs declaration form) is a tax management tool; since August 2012, China has abolished the export foreign exchange receipt verification system, and enterprises no longer need to go through verification, but this term still appears in historical business and some old documents.