J.P. MORGAN PERSONAL INVESTING LIMITED

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 invoice 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.

Where payments are made by credit card (virtual card payment), payment terms have been aligned to our standard payment terms and will be evaluated against net 60-day terms rather than pay immediately upon invoice approval.

In line with industry standard practice and JPMC standard contract terms, JPMC has the right to set off amounts owed by Suppliers against any amounts payable by JPMC. Accordingly, invoices will be held against open credit notes of higher value until sufficient invoice value has accumulated to create a net payable balance, at which time the balance will be paid based upon the payment terms of the final invoice which created the payable balance. Invoices wholly offset by credit notes will be reported as paid on time.

N/A

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.