When a bank wishes to release documents of title, or the goods themselves, to a customer of undoubted integrity, whilst still retaining its security rights in those goods and/or the proceeds of their sale, it may obtain a completed trust receipt from its customer to whom a loan has been made. This is an acknowledgement of the pledge of the goods to the bank and an undertaking of the customer to take the documents as trustees for the bank and to:

a) arrange for goods to be warehoused in the bank's name, or

b) arrange for processing of the goods and their return to the warehouse in the bank's name, or

c) arrange for sale of the goods and to pay all sale proceeds without deduction to the bank immediately on receipt or within a short, stated period of time.