ROWAN DRILLING (UK) LIMITED
Company number: SC061864
Reporting period:
1 July 2022 to
31 December 2022
This report was filed on 30 January 2023
and approved by Jonathan Cross
Payment statistics
Average time taken to pay invoices: 170 days
Invoices paid:
- within 30 days: 10%
- in 31 to 60 days: 53%
- in 61 days or more: 37%
Invoices due but not paid within agreed terms: 53%
Payment terms
Shortest standard payment periods
45 days
Longest standard payment period
Answer not provided
Standard payment terms
Two sets of standard payment terms were in operation during the reporting period: 1. Existing vendors of this entity prior to the closing of the merger between Ensco plc and Rowan Companies plc operate under standard payment terms of 45 days from payment of invoice. 2. Following the closing of the merger between Ensco plc and Rowan Companies plc, new vendors of this entity were transitioned to, and operate under, the combined company’s standard payment terms, which is described as follows: The reporting entity has standard payment terms of 60 days from receipt of the invoice for agreements with third-party suppliers and 30 days from receipt of the invoice for inter-company agreements.
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
The reporting entity actively seeks to resolve disputes by discussing them with relevant suppliers. When it is not possible to reach a mutual agreement or resolution, a number of potential dispute resolution methods may be used, including mediation, arbitration and/or litigation.
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.
No
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