Hi ni gang xin,
Normally if you right click on your midi file and choose "Bounce in place", and you tick "bypass effects" in the bounce in place menu, it will bounce your midi as an audio file, without your effects processed, but they will be present on the created audio track, with the setting that they have on the midi track.
As you can see on the picture, the first audio track, I did bounced with bypass effects, so it bounced the played midi with no processing and copied the effects with their own setting.
Then I bounced a second time, but did not bypass the effects. So the audio had been processed, but the effects not copied.
It proceed the same with send, it keeps your sends and setting if you bypass the effects in the bounce in place menu.
Hope it answered to your question!
Cheers