MERJ is committed to providing clear and transparent billing practices. This policy outlines the steps we take to ensure that all billing information is accurate and up to date.
1. Application/Initial/Annual Fees: Our fiscal year runs from 1 July to 30 June. Annual fees are assessed by MERJ group companies based on this fiscal year and cover the period from 1 July to 30 June. All annual fees are non-refundable. Initial invoices for annual fees will be prorated for the first year on a monthly basis based on the number of full months remaining in the fiscal year starting from the next month after the planned initial listing date (e.g. if the listing date is 15 February the fee would be 4 (full remaining months)/12 * annual fee). Where the invoice date is on or after 1 March, the invoice will include the prorated amount for the remainder of that fiscal year plus the annual fee for the next year.
2. Ad Hoc Fees: Other fees are charged at the timing of the event or otherwise as indicated in the relevant fee schedule.
3. Payment Methods: We accept payments by bank wire or USD Coin (USDC). All payments must be received by the due date stated on the invoice to avoid any late fees or other possible penalties.
4. Transaction Fees: All payments must be made net of any third-party charges (e.g. bank SWIFT fees, correspondent banking fees). The sender is obligated to cover any such charges and the invoice will not be considered settled until it is settled in full.
5. Payment Due Date:
- Application Fees: Application fees are due at the time of submission of the respective application.
- Initial Listing Fees (Issuers): Initial listing fees inclusive of the first year annual fees are due prior to the listing date.
- Annual Fees: All annual fees for the next year (i.e. 1 July to 30 June) are due by the last business day of June. We will aim to send corresponding invoices on the first business day of June.
- Other/Ad Hoc Fees: Unless otherwise stated in the invoice, invoices for other or ad hoc services not covered above are payable within no later than 30 days from the invoice date.
Note: we encourage you to provide a proof of payment, in particular if the deadline is near, to avoid a disruption of services.
6. Late Payments: If a payment is not received by the due date, a late fee of 1% will be applied to the outstanding balance. Late fees will be charged an additional 1% for each additional calendar month delinquent until the balance is paid in full. Late payments that are not settled promptly may result in a suspension of services and eventually a termination of services along with legal proceedings to recover the unpaid balance.
7. Disputes: If a customer has a dispute regarding a charge on their invoice, they should contact MERJ’s Finance Department to resolve the issue. MERJ will investigate the dispute and make any necessary adjustments to the customer's account
8. Changes to Billing Policy: MERJ reserves the right to make changes to this billing policy at any time. Any changes will be posted on our website and customers will be notified of any material changes by email.
MERJ is dedicated to providing our customers with the best possible billing experience. If you have any questions or concerns about your bill, please contact our Finance Department for assistance.
Last Updated 11 July 2024