In consideration of your advancing to us the sum of [...] OR making OR continuing advances to us OR giving us credit OR banking facilities, we have today pledged to you the goods (the Goods) represented by the documents mentioned in the Schedule below (the Documents) by delivery to you of the Documents.

We represent and warrant to you that the Documents are valid and that we have good title to them.

3.1 The Goods and the proceeds of all insurances on them and all sales of them and all our rights as unpaid sellers of them are to be a continuing security for the repayment to you on demand of all money and liabilities now or subsequently due from us to you upon any account or in any manner whatever.