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MERRILL LYNCH INTERNATIONAL

Company number: 02312079

Reporting period:
1 January 2023 to 30 June 2023


This information is as reported by the business, and responses are in their own words.

This report was filed on 28 July 2023

and approved by Bernard A. Mensah

Payment statistics

Average time taken to pay invoices: 49 days

Invoices paid:

  • within 30 days: 50%
  • in 31 to 60 days: 29%
  • in 61 days or more: 21%

Invoices due but not paid within agreed terms: 50%

Payment terms

Shortest standard payment periods

30 days

Longest standard payment period

60 days

Standard payment terms

Standard payment terms for goods and services are 30 days; once fully approved, invoices are paid in the next scheduled payment run. The frequency of payment runs depend on, amongst other things, currency of the invoice, however are typically completed at least weekly.

Were there any changes to the standard payment terms in the reporting period?

Answer not provided

Were suppliers notified or consulted about these changes before they were made?

N/A

Maximum contractual payment period agreed

60 days

No further comment provided

Any other information about payment terms

N/A

Dispute resolution process

Invoice payment disputes, complaints and concerns should be raised to Corporate Accounts Payable via email at aphelpdesk@ml.com or via phone 0207 995 2115. All emails will be responded to within 2 business days. Any escalation should be raised to the Accounts Payable Manager whose contact details are available upon request.

Other payment information

Has this business signed up to a code of conduct or standards on payment practices? If so, which?

For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

No, this business has not signed up to a code of conduct or standards on payment practices.

Does this business offer e-invoicing in relation to qualifying contracts?

This is where suppliers can electronically submit and track invoices. It's not just allowing suppliers to email them an invoice.

Yes

Does this business offer supply chain finance?

This is where a supplier who has submitted an invoice can be paid by a third-party finance provider earlier than the agreed payment date. The business would then pay the finance provider the invoiced sum.

No

Under its payment practices and policies, can this business deduct sums from payments under qualifying contracts as a charge for remaining on a supplier list?

No

During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?

No