Record a Charge

A charge is security that a company gives a lender or creditor (the chargee) for a loan. Record each of the company's charges in CAS 360 so they appear on the company's Register of Charges.

After you save a charge, you can return to it to record a variation, or a satisfaction or discharge.

Before you start

Check whether the chargee is already a contact. The Chargee/Trustee field lists your existing contacts, and you can also add a new contact from it.
Have the charge's details from ACRA ready, including the charge number and the date it was registered.

Add a charge

The Charge window opens on the Charge Details tab.

On the Charge Details tab, enter the Instrument Title and Charge Number, then the dates, Type of Charge and Created By.
On the Chargee Details tab, select the chargee in Chargee/Trustee.
Fill in any of the Property Details, Liability Details and Debenture Details tabs that apply to the charge.
Select Save.

The charge appears in the Charges section of the Company Info tab, with its charge number, charge holder, date created and date satisfied. To produce the company's Register of Charges, use the Register of Charges report on the Reports screen.

Save & Prepare Documents isn't available yet for Singapore companies. It shows a Coming Soon message and doesn't prepare documents, so use Save.

Required fields are described in Fields on each tab. If a required field is empty, CAS 360 shows a message and doesn't save the charge until you fill it in.

Fields on each tab

Charge Details

Field	What to enter
Instrument Title	The title of the instrument that created the charge. Required for local companies; optional for foreign companies.
Charge Number	The charge number from ACRA. Required.
Charge Description	A short description of the charge, up to 50 characters.
Date Created	The date the charge was created. Defaults to today's date.
Date Registered	The date ACRA registered the charge. This is the date shown in the Charges section of the Annual Return.
Approval Date	The date the charge was approved.
Type of Charge	Fixed (default), Floating or Fixed & Floating.
Created By	How the charge was created: Instrument (default), Resolution, Deposit or Other Conduct.
Other Conduct	Appears when Created By is Other Conduct. Describe the conduct that created the charge.

Chargee Details

Field	What to enter
Chargee/Trustee	The contact who holds the charge. This can be an individual, a company or another entity. Their name and address appear on the Register of Charges.
Previous Chargee/Trustee	If the charge has moved to a new chargee, the contact who held it before. This contact doesn't appear on the Register of Charges.

Property Details

Field	What to enter
Date Property Acquired	The date the company acquired the charged property.
Amount Charged	The amount charged on the property. Numbers only, up to 2 decimal places.
Currency	The currency of the amount charged. Required if you enter an Amount Charged.
Property Details	A description of the charged property.

Liability Details

Field	What to enter
Total Liabilities	The total amount secured by the charge. This is the amount of indebtedness shown in the Charges section of the Annual Return.
Currency	The currency of the total liabilities.
Note	Any notes about the liability.

Debenture Details

Field	What to enter
Total Amount secured by the whole series and Currency	For a series of debentures, the total amount secured by the whole series and its currency.
Amount of present issue of the series and Currency	The amount of the present issue and its currency. Required if you enter a Date of present issue of the series.
Date of present issue of the series	The date of the present issue.
Debenture Details	Any other details of the debentures.

Variation Details

See Record a variation.

Satisfaction Details

See Record a satisfaction or discharge.

Record a variation

When the terms of a registered charge change, record the latest variation on the charge.

On the Company Info tab, in the Charges section, select the Options menu (…) next to the charge, then select Edit.
Select the Variation Details tab.
Enter the Date of Latest Variation. It can't be earlier than the Date Registered.
In Latest Variation Declaration, select the declaration that applies. You must select one when you enter a date.
In Details of Variation, describe the change.
Select Save.

The Latest Variation Declaration options, as shown in the dropdown, are:

A: I confirm that the Instrument of Charge to be produced to the Registrar for his inspection (if required) is the Instrument that was duly executed by the company in favour of the above named chargee on the date stated above.
B: I have compared the copy of the Instrument of Charge to be produced to the Registrar for his inspection (if required) with the original Instrument and confirm that it is true and correct copy of that Instrument that was duly executed by the company in favour of the above named chargee on the date stated above.
C: Not applicable.

Record a satisfaction or discharge

When a charge is paid off or released, in full or in part, record it on the charge.

On the Company Info tab, in the Charges section, select the Options menu (…) next to the charge, then select Edit.
Select the Satisfaction Details tab.
In Nature of Satisfaction, select Partial Discharge, Partial Satisfaction, Total Satisfaction or Total Discharge.
Enter the Date of Satisfaction. It can't be earlier than the Date Registered.
Enter the Amount Satisfied and select its Currency. If you select a currency, you must enter an amount.
In Satisfaction Details, add any other details.
Select Save.

The date appears under Date Satisfied on the charge in the Charges section, and a Satisfaction section is added to the charge on the Register of Charges.

FAQs

Charge Number is always required. Instrument Title is required for local companies. Some fields become required when you fill in a related field:
- Currency on the Property Details tab, when you enter an Amount Charged.
- Amount of present issue of the series, when you enter a Date of present issue of the series.
- Latest Variation Declaration and Date of Latest Variation, when you fill in either one.
- Amount Satisfied, when you select a satisfaction Currency.
The Satisfaction section only appears on the Register of Charges when at least one field on the Satisfaction Details tab is filled in.
On the Company Info tab, in the Charges section, select the Options menu (…) next to the charge, then select Delete.

In the Delete Confirmation window, which asks Are you sure you want to delete this charge? and shows the charge number, select Delete Charge.
See Register of Charges - CAS 360 Dictionary Codes for the codes that pull each charge field into the template.