Security Deposit - Contract Module

To add a security deposit:

1. Click Add Item.

   This displays in the Actions menu on the right side of the page.

2. Select the group this security deposit is associated with from the Group field.

   Create a new group or category. Groups are the first level of organization in Lucernex. Groups are the parents of types, and grandparents of categories. Groups, types, and categories are used to simplify reporting.

3. Select the type of security deposit from the Type field.

   If you want to create a new type, follow the Add a Type procedures. Types are the second level of organization in Lucernex. Types are the children of groups, and parents of Categories. Groups, types, and categories are used to simplify reporting.

4. Select the status of the security deposit from the Status field.

   Create a new group or category.

5. Enter the begin date and the end date for the deposit in the Begin Date and End Date fields.

   You can also click Calendar to open the Date Picker and select the appropriate date.

6. Select the guarantee type from the Guarantee Type field.

   Create a new group or category.

7. Enter the deposit total in the Deposit Amount field.

   Note:

   The system will automatically select the value in the Deposit Currency depending upon the default currency set on your lease.

8. Select the Separate Account check box if the security deposit is being held in a escrow account.

9. Enter the account number of the account where the security deposit is held in the Account Number field.

10. Select the Interest Bearing? check box if the account is interest-bearing.

11. Enter the interest rate for the account in the Interest Rate field.

12. Select the legal party who is associated with the security deposit from the Legal Party field.

    To add an employer, vendor, or legal party, follow the Add a Vendor procedures.

13. Select the Required? check box if the security deposit was required.

14. Select the currency the security deposit will be returned in from the Return Currency field.

15. Enter any comments in the Comments field.

16. Select the covenant for this security deposit from the Covenant field.

    You can view information about a covenant by selecting a covenant from the field and then clicking the View .

17. Enter the section of the covenant where the security deposit is mentioned in the Section field.

18. If this security deposit is associated with an amendment, select the amendment from the Amendment field.

    You can view information about an amendment by selecting an amendment from the field and then clicking the View .

19. Click Save Changes.

    The page refreshes. The security deposit is added to the Contract Security Deposit List.

To edit a security deposit:

1. Select the security deposit you want to edit from the Contract Security Deposit List.

   The details of the security deposit populate in the Security Deposit Information section.

2. Make your changes.

3. Click Save Changes.

   This displays in the Actions menu on the right side of the page.

   The page refreshes. Your changes are saved.

To delete a security deposit:

1. Select the security deposit you want to delete from the Contract Security Deposit List.

   The details of the security deposit populate in the Security Deposit Information section.

2. Click Delete Item.

   This displays in the Actions menu on the right side of the page.

   A dialog opens, asking you to confirm your choice.

3. Click Yes.

   The page refreshes. The security deposit is deleted, and it no longer appears in the Contract Security Deposit List.