TRUST RECIEPT AGREEMENT

Date Issued : ____________________

Placed Issued : ____________________

Received in trust from (ENTRUSTER) the following goods per order of the undersigned
_____________________ (ENTRUSTEE) :

QUATITY DESCRIPTION/ITEM PRICE AMOUNT

TOTAL : ___________________

DUE DATE : ________________

Undersigned ENTRUSTEE hereby agrees, undertakes and commits to hold in trust for the ENTRUSTER the above goods,
to dispose of or sell them for cash and received the proceeds thereof in trust for the ENTRUSTER, to turn over and remit
the proceeds of the sale of the goods to the ENTRUSTER on or before the above due date, at the net amount indicated
above, or to return the goods to the ENTRUSTER in the event of non-sale on or before ___________________
or upon demand of the ENTRUSTER.

The ENTRUSTER may cancel this trust receipt agreement and take possession of the above goods or of the proceeds
realized therefrom at any time upon default or failure of the undersigned ENTRUSTEE to comply with any of the terms and
condition of this trust receipt agreement. It is however, understood that should there be goods remaining unsold on
_______ , the ENTRUSTER may, at his/her option, extend in writing the operation of this trust
receipt agreement to another date under the same terms and conditions.

Any court action arising from this agreement, the same shall be brought in any court of the Philippines.

Trustee Trustor