GOV.UK
ROWAN DRILLING (UK) LIMITED
Company number: SC061864
Reporting period:
1 January 2020
to 30 June 2020
This report was filed on 17 August 2020
and approved by Jonathan P. Cross
Payment statistics
Average time taken to pay invoices: 59 days
Invoices paid:
- within 30 days: 59%
- in 31 to 60 days: 14%
- in 61 days or more: 27%
Invoices due but not paid within agreed terms: 64 %
Payment terms
Shortest standard payment period
0 days
Longest standard payment period
60 days
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?
No
Maximum contractual payment period agreed
60 days
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
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