Trust Receipt Agreement: Fill & Download for Free

In international trade, documents may change based on the country, regulations, and means of transportation. Trade agreements between importer and supplier or between countries require documents to protect both sides’ rights during the trade. These documents fall under 5 groups to apply these different regulations systematically. These are commercial documents, official documents, transport documents, insurance documents, and financial documents.Documents of international tradeproforma invoicecommercial invoicefreight invoiceweight notepacking listmanufacturer’s analysis certificatecertificate of inspectioncertificate of OriginRadiation CertificateConsular invoiceVeterinary CertificateA.T.A CarnetOcean bill of LadingAirwaybillStraight bill of ladingforwarder’s receiptInsurance PolicyInsurance certificateBill of Exchangewarehouse ReceiptTrust Receipt and delivery order

Documenting the terms of an agreement.I had a client who had a fourth-grade education, was dyslexic long before such conditions were recognized, but had a superb memory, a winning personality, and the sharpest business mind I ever met. He had built an empire of small businesses related to the auto trade. He was huge, tough, and the personification of a “good” man. I was the first lawyer to survive more than a few months, possibly because I recognized his reading issue and without saying, made a point of keeping communications oral and explaining documents to him rather than expecting him to read them. I admired and respected him, loved his wife, and with several children myself, empathized with the problems of raising their tribe. He reminded me of my own father.The above being a disclosure of bias, one of my early tasks for him was creating documentation of what he owned. I found out about a used car parts business when he was served for a lawsuit based on a pre-acquisition event . Of course, my first thought was to review the acquisition documents to see if the claim had been disclosed, whether there was a hold-back or some such, and generally how such potential claims were addressed. Now I was a litigator, not a business attorney, but had seconded a few small acquisitions before I started my own practice, so I felt sure there would be something in the documents of acquisition on this. I went by his office, explained what I was looking for and why, and asked that he find the acquisition documentation and send it to me. If the documents were bulky, I suggested he send them to us by courier and we would have copies made by our trusted service and the originals returned, also by courier.The next day, I received an envelope containing a single sheet of paper, hand written and obviously torn from a spiral notebook, saying that my client was buying ownership of X company from seller for a sum certain, receipt of which was acknowledged. Thinking it was just some sort of basic agreement to agree, although troubled by that “receipt” language, I called and explained I needed all the documents as drafted by the attorneys or accountants involved. My client assured me that was it. Signed by both people, and money changed hands. Deal done.Of course we got it all fixed, but that was the least documentation I ever saw. Both people were honorable, but neither recognized the need for anything more than what I had been given.On another occasion when I was asked to find out why a jointly owned small manufacturing company was losing so much money, I went out to the location and asked to see the records. I was given a cardboard box full of notes on such paper as cigarette packaging. There were tire marks on some of the papers, because, I was told, the box had been dropped while being sent to the office for me to review, and a delivery truck had run over them. But I was assured that they had been able to retrieve “most of that”. The thing was, it was probably true.There are other examples, but you get the drift. In each case these were owned by smart people good at their primary jobs, but just limited in their experience of paperwork.

I had pulled in to the closest Exxon station to my house, on my way home, and while I was pumping gas, I noticed that our corporate attorney, and a man I’d had to represent me personally in the past, was filling up his tank as well. We were in the same civic club, and we were friendly, though I was quite a bit younger.I was the CFO of the corporation and probably the President of the club that year. The attorney was late on his dues for our annual fundraiser, so I paid them for him and took this opportunity to collect. They were $20.He’d already noticed me, so when I walked up to him, he extended his hand and began to ask me how I was doing and all that kind of stuff. He genuinely was interested in people; that’s why I trusted him and liked doing business with him. — He wasn’t cheap, either. Neither was he broke.His brother-in-law, his wife and he, and perhaps a spare house? — made up the little subdivision that they called home, and these were not normally sized homes for our area. BIL was an orthodontist, and he was a second-generation managing partner/practice owner; Texas Super Lawyer; personal injury lawyer when he could be, but practiced other forms of law, too, to mix it up.I told him that he was late on his fundraiser dues, so I paid them. They originally were originally $20, but due to a few days worth of interest, he now owed me $100.He knew I was joking, but as he turned his head to hang up his gas pump nozzle, he said: “You better be careful saying stuff like that. It’s actually a pretty serious crime.”Stupid me, I say, “What crime could that be?”“Usury,” he said. And, he wasn’t joking.He knew I liked looking up new business law and new academic concepts. I knew he’d gotten his bachelor’s in history and he knew I was a finance major. — All of this was just in good fun, and he pulled out his wallet and handed me $20, and I told him I’d mail his office a receipt.With that, I checked on how his college-age son was faring, and with that, we parted ways for the afternoon.When I got home, I had to know what usury was. — You know how some words sound old? It sounded old, like someone brought it over on the Mayflower. For all I knew, it was just a wild goose chase.But, there it was. Usury. A felony. In short, states set a maximum annual interest rate you can charge someone when you don’t have a prior agreement. In Texas, that’s 18%.You don’t have to be Warren Buffett to realize that going from $20 to $100 (+$80) in a matter of days was hundreds of percent interest, and that’s not even the annualized return. That’s just the matter of days period return.But then, I got to thinking about something. It’s rather ubiquitous in Texas, on invoices, that when you’re late, you may be charged 1.5% interest on the balance of the invoice after 30 days, or whatever NET ## credit terms the merchant requires. So what is so special about 1.5%? — What’s 18%/12 months? → 1.5% per month.OK. So I learned something. The corporation I represented had no formal credit agreements with these suppliers. Texas may be more casual in this respect, or it may just be that some of these suppliers were more mom-and-pop establishments. That’s why you were charged 1.5% on the balance if you didn’t pay NET 30 (in 30 days) like the invoice said you needed to do.That’s where the academia ends and the oh shit begins.I thought to myself: “Have I ever charged somebody, with whom I had no credit agreement, 10% interest, for instance, in a month, on their balance?” → If so, that’d be usury!Umm…..On the advice of my attorney, I respectfully decline to answer.