TRUST RECEIPT

TRUST RECEIPT

IF-21

		Bangshal Branch, 45, Bangshal Road, Dhaka-1100. Tel: 7317175, 7317396
SOCIAL ISLAMI BANK LTD.

TRUST RECEIPT

Adhesive Stamp TK.

Date: 24/01/201324/01/2013

To

The Manager

Social lslami Bank Ltd.

Bangshal Branch

45, Banshal Road, Dhaka-1100

                  

Dear Sir,

1. In consideration of your handing over to me/us

     * the shipping documents of the goods as per particulars at the foot of receipt held by    

       your bank as security for payment of the bill drawn by M/s JOY TRADE INTERNATIONAL on   

      me/  us date  24/01/2013 or a sum of 50,00,000.00 being the invoice, value of  

       the said goods payable to your bank.

 

Murahuha goods valuing Tk                     . Per particulars at the foot of this  trust receipt held by your bank as security for' the payment of Murabaha investment outstanding in your books of accounts in my/our name.

I/we hereby undertake to land, store and hold the said, goods as the agents/trustees of your bank for a period of  days/month upto ……………. or until sale of the goods which ever is earlier and after sale the proceeds there of shall be held and shall remain the property of your bank and subject to the bank's security/title/claim thereof and that the  proceeds of sale of the said goods shall be forthwith handed over to you. I/we specially undertake to advise you in respect of which shipment each payment made so that you may apply cash payment to its appropriations towards related bill/invoice or to my/our related Murabaha investment account, and  I/we further undertake that the proceeds of the said goods shall in all things be  treated by me/us in my/our books as belonging to your bank and earmarked as the bank's property until the above mentioned acceptance or invoice or Murabaha    liabilities shall-be fully paid and satisfied by me/us.

2.    I/we also undertake that all the sales by meius of the said goods shail not be against bazar chits or promisory notet but only by cash to be paid over to you on demand. For all goods covered by this trust receipat fbr the time being unsold. I/we authorise you or any one authorised by you in writing in that behalfto enter my/our godown(s) and take ossessions of the said goods at any time provided the goods are found in original packing condition and the quality and contents there of had not been deteriorated or the due date if any thereof has not expired or about to expire within which time the disposal thereof is not possible in the event of which the bank shall not take possession thereof I/we will be liable to make payment of the bill/Murabaha goods instantly.

3. If the goods covered by the trust receipt shall not be sold within due date of payment i.e. by ………….I/we undertake to hand over to the full amount of the value of the said goods with profit and the extra amount to be required due to exchange fluctuation if any.

 

* Whichever is applicable

4. I/we also undertake at all times to keep the goods covered by this. This Trust Receipt insured against fire, theft, riot and civil comotion to their full value and to hand over to you on receipt all monies received from the insurance under the policy or policies effected by me/us such policy or policies being in the meantime held by me/us as trustees/trustees for your bank and to be transferred to you at any time on demand.

5. I/we acknowledge and declare that the goods covered by this trust Receipt and the monies from time to time outstanding in respect thereof represent a separate transaction distinct from all goods held under similar Trust Receipts or monies outstanding in respect thereof and that the aggregate of such goods and monies shall not be deemed or taken -to constitute a general credit from your Bank to me/us,

6. on the payment by me/us of the full amount of the above this Trust Receipt shall be delivered to me/us cancelled and thereupon any goods, covered thereby  which may be unsold or any proceeds thereof which shall be outstanding or unrealized shall be my/our absolute property,

Particulars of goods above Referred to as per shipping documents.
Bill No	Amount of Invoice of value	Due Date	Steamer	Date of invoice	Marks and Numbers	Description	Amount of Invoice

Particulars of goods above referred to as Murabaha goods
Murahaha A/c No	Description of goods	Value	Due Date of Payment

Yours faithfully