Under the "Warrants" tab, "Rent Calculation" calculates the total rent due up to the target date required.
Input the target date, and then use "Get From," "Batch," "Upload," or "Find By" to choose the warrants as desired.
Then click on the report button and choose report type.
LMEsword will then calculate the total rent due.
This is not a rent endorsement instruction, this is simply a calculation.
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
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 account holder's report, then the warrants will be endorsed by the warehouse agent thereby updating the electronic record of the warrants in LMEsword.
A rent endorsement instruction can be created via numerous methods, via:
- the search, batch and account management screen
- the rent endorsement screen
- an upload file