On Feb. 4, UK LME issued notice of annual rent payments Mar. 2025.
UK LME issued notice of annual rent payments Mar. 2025 in relation to obligations.
Document dated Feb. 4, 2025, received from UK LME Feb. 7, summarized on Feb. 12.
Follows UK LME Feb. 2024, annual rent payments Mar. 2024 notice, see #200570.
Annual Rent Payments
Warrant holders must pay rent due on warrants up to Mar. 31, 2025 inclusive.
Any in-depository warrants not endorsed electronically as rent-paid in LMEsword by business-end on Mar. 31, 2025 cannot be transferred until such endorsement is made.
This is within the cleared or ex-cleared instructions via LMEsword.
Warrant holders should ensure that all warrants, subject of a cleared transfer instruction through LMEsword on Mar. 27, 2025 onwards, have been endorsed.
Specifically, as rent-paid up to and including Mar. 31, 2025, and warrant holders are reminded by UK LME that advance payment of rent is acceptable in LMEsword.
Such warrants cleared on or before Mar. 31, LMEClear will credit the seller accordingly.
Any out-of-depository warrants which have not been electronically endorsed as rent-paid in LMEsword by business-end on the last business day of Mar. cannot be lodged.
In particular, lodged with the depository until such endorsement is made.
Warrant holders must be timely in paying any outstanding rent, so that the funds are received by warehouse companies, or their London agent as applicable, by deadline.
This is before banks close, and on Mar. 31, the London agents of warehouse companies will use their discretion to accept warrants for rent payment after 12:00.
Penalty Charges
Members are reminded that, as per notice 20/258 on Nov. 19, 2020, UK LME implemented automatic penalty charges for cleared delivery instructions, as set out.
This relates to cleared delivery instructions of rent unpaid warrants in the three (3) business days preceding the last business day of Mar. in any given year.
