DOLPHIN DRILLING LIMITED
Company number: 01017560
Reporting period:
1 July 2020 to 31 December 2020
Report filed on:
29 January 2021
Approved by:
STEPHEN COX
Payment statistics
Average time taken to pay invoices: 37 days
Invoices paid:
- within 30 days: 46%
- in 31 to 60 days: 45%
- in 61 days or more: 9%
Late and disputed:
- payments due in the reporting period which have not been paid within the agreed period: 41%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
90 days
Standard payment terms
Standard company T&C's: company shall pay the approved invoice within 30 days after receipt of a correctly and properly supported invoice. This is found on the company website within the vendor portal section.
Were there any changes to the standard payment terms in the reporting period?
We have undertaken an exercise throughout 2020 to review vendor payment terms, agree with vendors and change accordingly.
Were suppliers notified or consulted about these changes before they were made?
Yes, supply chain department engaged in dialogue with relevant suppliers and ensured this was included in the relevant purchase orders/contracts.
Maximum contractual payment period agreed
90 days
N/A
Any other information about payment terms
N/A
Dispute resolution process
The purchase order shall be governed and interpreted in accordance with the laws of the country in which the purchase order was issued. Any dispute arising in connection with the purchase order which cannot be resolved by mutual agreement between the parties shall be settled by court proceedings brought before the courts within the jurisdiction of the country in which the purchase order was issued.
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