MERRILL LYNCH INTERNATIONAL
Company number: 02312079
Reporting period:
1 July 2023
to 31 December 2023
This report was filed on 19 January 2024
and approved by Bernard Mensah
Payment statistics
Average time taken to pay invoices: 51 days
Invoices paid:
- within 30 days: 49%
- in 31 to 60 days: 28%
- in 61 days or more: 23%
Invoices due but not paid within agreed terms: 51 %
Payment terms
Standard payment period for qualifying contracts
30 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 invoice however are typically completed at least weekly.
Were there any changes to the standard payment terms in the reporting period?
No
Maximum contractual payment period agreed
60 days
Any other information about payment terms
N/A
Dispute resolution process
Invoice payment disputes, complaints or 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 escalations 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
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