In consideration of your handing to me / us Shipping Documents representing the goods specified therein as per particulars at foot,
hypothecated to you as collateral security for the due payment of the undermentioned bill (s) / draft (s) payable to you drawn upon me / us by
and accepted by me / us. I / We hereby engage to utilize the same promptly without expense to you for no other purpose other than landing
clearing from customs, storing and holding the said goods as Trustee for you and on your behalf and keep the said goods separate and
capable of identification from other goods in my / our possession advising you of its location, and in the event of the goods or any portion
thereof being sold and delivered before full payment of the said bill (s) / draft (s), the proceeds of such sale shall be received by me / us as
Trustee for you, and paid to you when and as received notwithstanding prior to its due date. I / We at the same time will advise you the
account on which such payment is made. I / We shall obtain your approval prior to sell the said goods on credit or against any Bill of
Exchange or Promissory Note and shall deliver to you such undertaking to pay by buyer thereof or deliver to you such Bill of Exchange or
Promissory Note properly endorsed.
I / We also undertake to keep the goods fully insured at my / our expense specifying your name as beneficiary against loss by fire,
thefts and any other risk to which said goods may be subject to and to deliver any and all policies to you upon demand.
I / We allow you and anyone authorized by you in writing to enter my / our warehouses and premises or any place where the said
goods may be stored at any time for viewing, inspecting, identifying and / or taking possession of the goods for any other purpose relating
to this TRUST RECEIPT.
You may 'at any time cancel this TRUST RECEIPT and take possession of the said goods and in doing so will in no way impair
or lessen your rights to receive payment of the full amount of the bill (s) / draft (s) and / or release my / our liability to pay same.
It is agreed that you assume no responsibility for the correctness, validity or genuineness of the documents released to me / us
hereunder or for the existence character quantity, quality, conditions, value or delivery of any goods purported to be represented by any of
such documents.
It is also agreed that the undermentioned bill (s) / draft (s) will be paid by me / us in full at maturity irrespective of the sale of the
said goods.
I/We agree to pay you interest on the outstanding amount of bill (s) / draft (s)at the rate of % ( percent)
per annum. The Payment of interest shall be made on the 26th day of each calendar month (“Interest Payment Date”) commencing from the date
of this Trust Receipt. If the Interest Payment Date of any calendar month falls on a day which is not a banking day, the Interest Payment Date
shall be shortened to the preceding banking day. The last payment of interest shall be due on the maturity date of such bill (s) / draft (s).
If I/We default in any due performance under this Trust Receipt or fail to pay any amount when due, I/We shall pay you default
interest on the outstanding amount in Thai Baht currency of bill (s) / draft (s) at the default rate announced by you from time to time which
is presently % ( Percent) per annum. If the outstanding amount of bill (s) / draft (s) is in currency other
than Thai Baht currency, I/We allow you to convert the outstanding amount of bill (s) / draft (s) in such other currency into Thai Baht
currency by using exchange rate which you deem appropriate and I/We shall pay you default interest on that amount at the rate mentioned
above. I/We understand that you may change the default rate without any prior notice to me/us. The calculation of default interest shall
commence from the date that I/We default in performance and/or payment up until I/We have paid all obligation to you in full.
I / We agree that the foreign exchange rate be fixed by you using spot on maturity of the relative bill (s) / draft (s) unless otherwise
agreed upon.
Should the documents subsequently received appear to have any discrepancy, I/we undertake to take up the documents and
authorize you to release the Guarantee/Reserve and pay.
I/We hereby comfirm that on the date hereof, I/We have received from you the amount of the bill /draft referred to in the below
table and such amount be considered as loan advanced by you to me/us in connection with the trust receipt facility pursuant to the
terms hereof.
TRUST RECEIPT
( Hypothecated Shipping Documents )
9905006-1-09
Yours faithfully