Trust receipt - bank loan or bills payable?

T/R loan will be treated as Bills payable (sub-item of Accounts payable). The nature of the loan determine whether it is bills payable or bank loan, but not timing.

T/R loan is a form of import advance or import credit facility. Basically, it is a fixed loan secured against a Trust Receipt and is available for a certain fixed tenor, say 30/60/90/120/180 days. The bank retain the Trust Receipt and in return release the export document to you so that you can deliver the bills of lading to the carrier to take delivery of the goods

In contrast, bank loan are simply advance of funds to your company while the bank will not retain any bills (no matter secured or unsecured). For trading company, normally it includes Packing loan, Invoice discounting loan, factoring loan, clean advance loan etc.

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RE :Trust receipt - bank loan or bills payable?
Accounting treatment for trust receipt:

According to the standard bank confirmation item 7, there is a field: Acceptance outstanding in banker books, of which goods released against Trust Receipt.
How should these items be classified in the financial statements? Should I treat it as bills payable? or short term bank loans?

Actually when are items classified under bills payable / bank loan? What are the key criteria / timing in deciding on the classification?
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From my knowledge, we usually have to pay interests for the bank loans. So, do you have to pay interest (NOT bank charges) for the trust receipt??

If yes, treat it as bank loan.
If no, treat it as bills payable.