Even if you apply under the letter of credit, I think it is necessary to look at the trust receipt loan and the letter of credit separately. The term of the trust receipt loan shall be decided by both parties according to the expected term of the goods sales, and has nothing to do with the payment term of the letter of credit itself.

When opening a letter of credit, the importer needs to provide certain guarantee conditions, such as deposit and credit line.

For the problems under the forward L/C, if the L/C needs to be paid at maturity, and if the importer thinks that the goods have not been sold, he can still make a trust receipt loan from the bank. Pre-acceptance is a necessary operation link of letter of credit. Banks can't process documents without external acceptance (just like immediate payment), so there is no way to talk about the trust relationship with importers afterwards.

The risk of a bank under a letter of credit has always been controlled by the guarantee conditions at the time of opening the letter of credit.

The issue of pledge does contradict the concept of trust receipt. Why talk about pledge if you don't take it? After checking, I think this concept comes from British precedent. Considering that trust is an exotic product, it may be a controversial issue in different legal systems.