HELIX WELL OPS (U.K.) LIMITED
Company number: SC231293
Reporting period:
1 January 2020 to 30 June 2020
Report filed on:
23 July 2020
Approved by:
Craig McCual
Payment statistics
Average time taken to pay invoices: 31 days
Invoices paid:
- within 30 days: 61%
- in 31 to 60 days: 32%
- in 61 days or more: 7%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 11%
Payment terms
Shortest standard payment periods
10 days
Longest standard payment period
45 days
Standard payment terms
In consideration of the satisfactory performance of the Work, Purchaser shall pay Vendor the Price in the manner set out in the Conditions.
Were there any changes to the standard payment terms in the reporting period?
No
Were suppliers notified or consulted about these changes before they were made?
N/A
Maximum contractual payment period agreed
45 days
No further comment provided
Any other information about payment terms
No further comment provided
Dispute resolution process
"If an invoice is received without a purchase order number then the invoice is returned to the supplier from the accounts payable team, requesting that a revised invoice is sent. If an invoice is received quoting a PO number, then the invoice is distributed by the accounts payable team to the appropriate project manager for approval. If they have any concerns or disputes over the invoice they will ask the accounts payable team to place the invoice on hold whilst they resolve the query with the vendor (via their contact). Once the dispute is resolved then the appropriate project manager will a) let the accounts payable team that the invoice can be released from its hold before the invoice is paid in line with the agreed payment period stated on the PO, or b) the invoice continues to be held until a credit note or a revised invoice is received. If a credit note is received then the invoice will be released from its hold before the invoice is paid deducting the credit note value in line with the agreed payment period stated on the PO. If a revised invoice is received then the original invoice will be deleted before the original invoice is registered by accounts payable. The revised invoice will then be paid in line with the agreed payment period stated on the PO. If an invoice is overdue, then the vendor would get in touch with the accounts payable department. They will then advise why the invoice payment has not yet taken place. They may advise the vendor to get in touch with the appropriate project manager (see above scenarios), or advise on a payment date. "
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.
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