The account holder can scan all of their out of depository warrants into a batch within LMEsword. From the batch the account holder can generate a report via the rent calculator containing details of the out of depository warrants to be endorsed and the total amount of rent due on those warrants up to and including 31 March.
This report will be by warehouse agent, Warehouse Company, location and metal.
The account holder will send the warehouse agent their out of depository warrants and a copy of their report. The warehouse agent will scan the entire out of depository warrants presented to them into their batch folder. From the contents of the batch folder, the warehouse agent can generate a report containing details of the out of depository warrants to be endorsed and the total amount of rent due on those the warrants.
If the total on the warehouse agent’s copy of the report matches the accounts holder report, then the warrants will be endorsed by the warehouse agent thereby updating the electronic record of the warrants in LMEsword.