JP MORGAN INTERNATIONAL BANK LIMITED
Company Information
- Company Number
- 03838766
- Registered Address
- 25 Bank Street, Canary Wharf, London, E14 5JP
- Status
- Converted / Closed
- Employee Count
- 1,112
- Turnover
- £283,000,000
- EBITDA
- £18,000,000
Additional Details
- Website
- https://jpmorgan.com
- Company Type
- Converted/closed company
- Incorporated On
- 6 September 1999
- Nature of Business
- 64999 - Financial intermediation not elsewhere classified66120 - Security and commodity contracts dealing activities
- Industries
- Financial Services
- Region
- London
Time to Pay
Payment Timeline
Payment Features
Performance Reports History
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2018 - 31 Dec 2018 | 21 Jan 2019 | 10 | 94% | 4% | 1% | 8% |
| 01 Jan 2018 - 30 Jun 2018 | 20 Jul 2018 | 12 | 94% | 5% | 1% | 10% |
Payment Time Trends
Payment Distribution Trends
Invoice Payment Practices
This information is as reported by the business, and responses are in their own words.
Payment Terms
Standard payment terms
Each JPMorgan Chase group company’s (JPMC) standard payment terms are “2% 10; net 60”, unless different terms are negotiated under contract or mandated by law in a particular country, meaning JPMC pays undisputed amounts within 60 days from receipt of an accurate invoice and may take a two percent discount off any amounts due under an accurate invoices as long as it pays within 10 business days from receipt. JPMC’s standard form contract typically used for higher risk engagements has standard payment terms of 2% 10; net 60 (as above). JPMC’s standard form contracts typically used for lower/minimal risk engagements have standard payment terms of 45 days after receipt of a correct invoice. JPMC’s standard purchase order terms and conditions typically used for minimal risk engagements have standard payment terms of 2% 10; net 60. JPMC’s standard terms and conditions used for engaging law firms has payment terms stating that JPMC will use its best endeavours to process, review, audit and pay invoices as soon as possible.
Were there any changes to the standard payment terms in the reporting period?
No
Any other information about payment terms
The entry for “Enter your shortest (or only) standard payment period in days” has been given as zero because one of JPMC’s standard form contracts states that JPMC will use its best endeavours to process, review, audit and pay invoices as soon as possible.
Maximum contractual payment period agreed
60
Dispute Resolution Process
A qualifying contract may set out a dispute resolution process. The sophistication of this process depends on the risk rating and therefore complexity of the contract, with contracts used for higher risk engagements containing a multi-tiered (or escalation) dispute resolution clause. Practically, and even in the absence of an escalation/dispute resolution clause in a qualifying contract, an internal escalation process is followed which is materially consistent, as regards JPMC, with a multi-tiered contractual clause.
Other Payment Information
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
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.
✅
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Company Summary
J.P. Morgan International Bank Limited is a global financial institution that provides a range of banking and financial services to individuals, corporations, and institutions. It is a subsidiary of JPMorgan Chase & Co, one of the largest and most respected financial institutions in the world.
The bank offers a wide range of products and services, including investment banking, asset management, private banking, and commercial banking. It also offers various financing solutions, such as loans, credit facilities, and treasury services. Its services are available in over 100 countries, making it a truly international bank.
In addition to its financial services, J.P. Morgan International Bank Limited is committed to sustainability. It has a strong sustainability program in place to ensure responsible and ethical practices in its operations. This includes promoting diversity and inclusion, reducing its environmental impact, and supporting community development initiatives.
The bank’s key people include its Chairman and CEO, Jamie Dimon, who has been leading the company since 2006. Other key executives include Daniel Pinto, CEO of the Corporate & Investment Bank, and Mary Callahan Erdoes, CEO of Asset & Wealth Management.
For more information on J.P. Morgan International Bank Limited and its services, individuals can visit their website at https://www.jpmorgan.com/international-bank-limited. The registered office address is 25 Bank Street, Canary Wharf, London, E14 5JP, United Kingdom.
