SG No:
TRUST RECEIPT
T/R No :
Stamp
To:
Date :
CIMB Bank Berhad (13491-P)
………………………………………………………….
Dear Sir
In consideration of you handing over to me/us the shipping documents of the goods, as per particulars set
out herein below, held by your Bank, as security, for due payment of the Bill mentioned herein below (hereinafter referred to
as “The Bill”). I/We hereby agree to hold the document of title to the said goods when received and the proceeds thereof
when sold as Trustee(s) and Agents(s) for the Bank and on its behalf upon the following terms :
1.
I/We agree to land and store the goods in the name of your Bank and if in a warehouse to hold, the warrant
or warrants in Trust for you and as your agents on your behalf and to hand you the warrant or warrants at any time, upon
demand and to hold the said goods until sale and sell the said goods as Agent(s) and Trustee(s) for and on behalf of your
Bank. In the event of the said goods or any portion thereof being sold or delivered before full payment of the Bill, I/we
undertake to hold the proceeds of such sales as such Agent(s) and Trustee(s) as aforesaid as the property of your Bank and
subject to the Bank’s security thereon and to pay the proceeds of the sale of the said goods forthwith to your Bank as and
when received.
2.
I/We undertake on Demand forthwith to return the goods to you, or if not in our hands, the value thereof to
your satisfaction.
3.
I/We also undertake on Demand forthwith to furnish you full particulars of credit sales made by me/us.
4.
I/We also agree at all times to keep the said goods covered by this Trust Receipt insured against fire and
theft for the full insurable value and in case of loss to pay you immediately on receipt all monies received from the insurers
under the policy or policies effected by me/us, such policy or policies being in the meantime held by me/us as Trustee(s) for
your Bank and I/we undertake to transfer the same to you at any time on Demand.
5.
I/We agree that you may at any time cancel this trust and take possession of the said goods, or of the
proceeds of such of the same as may then have been sold, wherever the said goods or proceeds may then be found, and in
the event of any suspension or failure, or assignment for the benefit of creditors, on my/our part of any petition in Bankruptcy
by or against me/us or the non-fulfilment of any obligations or the non payment at maturity of any acceptance or any other
indebtedness on my/our part to the said Bank, all obligation, acceptances, indebtedness and liabilities whatsoever shall
hereupon (with or without notice) mature and become due and payable.
6.
I/We authorise you to debit my/our account with you of all monies due to you under the bill on the due date.
7.
On payment by me/us of the full amount, this Trust Receipt shall be cancelled and thereon any goods
covered thereby which may be unsold or any proceeds thereof which shall be outstanding shall be my/our absolute property.
8.
I/We agree not to charge or purport to charge the goods or the proceeds of the sale thereof with the
payment of any monies to any person or to use or purport to use the same as security for the performance of any obligation
whatsoever.
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SD 16/ENGSC-12/2012
9.
I/We agree that no failure of the Bank to take advantage of any current failure or omission on our part to
carry out fully any of the provisions of this or any similar receipts or agreement, or of the agreement under which the Bank
issued the Documentary Credit under which the said goods were purchased, shall be deemed to be a waiver by the Bank of
its rights or remedies under either or any of the said papers, unless the said waiver shall be in writing endorsed hereon and
signed by the Bank or its duly authorised agent.
Yours faithfully,
______________________
(Authorised Signatory/ies)
Name :
A/C No. :
Address :
Bill No.
Amount of
Acceptance
or Invoice
Maturity
Period
Steamer
Due Date
Page 2 of 2
Marks and Nos.
No. of
Packages
Description of
Merchandise
SD 16/ENGSC-12/2012