TRANSOCEAN ONSHORE SUPPORT SERVICES LIMITED
Company number: SC217020
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
14 July 2020
Approved by:
Colin Meldrum
Payment statistics
Average time taken to pay invoices: 16 days
Invoices paid:
- within 30 days: 86%
- in 31 to 60 days: 8%
- in 61 days or more: 6%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £0
- payments due in the reporting period which have not been paid within the agreed period: 14%
Payment terms
Shortest standard payment periods
30 days
Longest standard payment period
60 days
Standard payment terms
NET 30 is our standard payment term based on the vendors invoice date. There are vendors that are set up with an early payment discount structure as these are negotiated at the time the contract is put in place with the vendor and/or when they have requested early payment at the time they are set up as an approved vendor. The most frequent term is NET30New vendor setups will be set at NET 45 days as part of the approval process when they complete and signed our documents required to evaluate the vendor
Were there any changes to the standard payment terms in the reporting period?
New vendor setups will be set at NET 45 days as part of the approval process when they complete and signed our documents required to evaluate the vendor.
Were suppliers notified or consulted about these changes before they were made?
No
Maximum contractual payment period agreed
60 days
60 days but this is only with one vendor who proposed it as part of a tender.
Any other information about payment terms
No further comment provided
Dispute resolution process
Vendors can email APInquiryGlobal@deepwater.com to check the status of a pending invoice. This mailbox is monitored daily to respond to the vendors question concerning any outstanding invoices. For PO vendors they can check the status of their invoice via the portal. Escalation is based on the rig or department the invoice pertains to and the nature of the dispute.
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 Fair 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.
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