Difference between revisions of "Trust receipt"
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Revision as of 04:13, April 15, 2010
Release of merchandise by a bank to a buyer while the bank retains title to the merchandise. The goods are usually obtained for manufacturing or sales purposes. The buyer is obligated to maintain the[1]
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goods (or the proceeds from their sales) distinct from the remainder of the assets and to hold them ready for repossession by the bank.