The average time taken for ROWAN DRILLING (UK) LIMITED to pay invoices to suppliers has fluctuated over the past three periods, with an increase in the most recent period.
The volatility in the average time taken to pay invoices has been relatively high over the past three periods, with a significant increase in the most recent period.
| 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 2023 - 31 Dec 2023 | 31 Jan 2024 | 79 | 15% | 73% | 12% | 77% |
| 01 Jan 2023 - 30 Jun 2023 | 28 Jul 2023 | 43 | 11% | 70% | 19% | 55% |
| 01 Jul 2022 - 31 Dec 2022 | 30 Jan 2023 | 170 | 10% | 53% | 37% | 53% |
| 01 Jan 2022 - 30 Jun 2022 | 29 Jul 2022 | 76 | 13% | 71% | 16% | 59% |
| 01 Jul 2021 - 31 Dec 2021 | 31 Jan 2022 | 76 | 23% | 47% | 30% | 54% |
| 01 Jan 2021 - 30 Jun 2021 | 30 Jul 2021 | 59 | 15% | 32% | 53% | 74% |
| 01 Jul 2020 - 31 Dec 2020 | 27 Feb 2021 | 89 | 32% | 34% | 34% | 73% |
| 01 Jan 2020 - 30 Jun 2020 | 17 Aug 2020 | 59 | 59% | 14% | 27% | 64% |
| 01 Jul 2019 - 31 Dec 2019 | 25 Aug 2020 | 80 | 10% | 42% | 48% | 89% |
| 01 Jan 2019 - 30 Jun 2019 | 25 Aug 2020 | 40 | 35% | 58% | 7% | 7% |
| 01 Jul 2018 - 31 Dec 2018 | 29 Jan 2019 | 32 | 67% | 24% | 9% | 36% |
| 01 Jan 2018 - 30 Jun 2018 | 23 Jul 2018 | 46 | 40% | 48% | 12% | 32% |
This information is as reported by the business, and responses are in their own words.
Standard payment terms
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 information available
Any other information about payment terms
No additional information
Maximum contractual payment period agreed
60
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.
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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.
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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.
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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?
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During the reporting period, did the business deduct sums from payments as a charge for remaining on a supplier list?
No information available
Rowan Drilling (UK) Limited is a Scottish-registered company incorporated in 1977, classified under activities of head offices. This indicates it operated as a UK head office or holding entity within a wider group whose business, as suggested by the company name, related to drilling operations. Companies House records show the company is now in liquidation, with a members' voluntary liquidation commencing on 30 September 2024. No further detail on trading operations, products or services is available from the evidence supplied, so this summary is limited to its corporate status and registered function as a head office entity within a drilling-related group.
Generated from the company's website and Companies House records. Sources: find-and-update.company-information.service.gov.uk · find-and-update.company-information.service.gov.uk