Industry ranking
Score of 91.8/100 qualifies for PaymentCheck Certification
| Reporting Period | Filing Date | Average Time to Pay (days) | Paid within 30 days | Paid 31-60 days | Paid after 60 days | Not Paid within Terms |
|---|---|---|---|---|---|---|
| 01 Jul 2020 - 31 Dec 2020 | 30 Jan 2021 | 20 | 80% | 20% | 0% | 20% |
| 01 Jan 2020 - 30 Jun 2020 | 30 Jul 2020 | 15 | 96% | 4% | 0% | 4% |
| 01 Jul 2019 - 31 Dec 2019 | 26 Jan 2020 | 15 | 82% | 18% | 0% | 18% |
| 01 Jan 2019 - 30 Jun 2019 | 29 Jul 2019 | 34 | 33% | 33% | 34% | 67% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
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. Variations to the standard terms exist based on negotiated agreements with certain counterparties.
Were there any changes to the standard payment terms in the reporting period?
No information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
30
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.
Has this business signed up to a code of conduct or standards on payment practices?
For example, signatories to The Prompt Payment Code must commit to paying 95% of their invoices within 60 days.
❌
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.
❌
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.
❌
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?
❌
During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
VALARIS PLC is a liquidation public limited company, incorporated on 18 September 2009, based in the South East region. Registered business activity: Support activities for petroleum and natural gas extraction.
From Companies House records.