FAIRVIEW ESTATES (HOUSING) LIMITED
Company number: 00769922
Reporting period:
1 January 2026 to 30 June 2026
Report filed on:
3 September 2026
Approved by:
R K Williams
Contracts and payments
Do any of this business's construction contracts with its suppliers include retention clauses? Yes
Payment statistics
Average time taken to pay invoices: 24 days
Total value paid:
- within 30 days: £70,292,024 (88%)
- in 31 to 60 days: £7,531,633 (9%)
- in 61 days or more: £2,009,001 (3%)
Invoices paid:
- within 30 days: 82%
- in 31 to 60 days: 15%
- in 61 days or more: 3%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £26,369,657
- payments due in the reporting period which have not been paid within the agreed period: 38%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
21 days
Longest standard payment period
60 days
Standard payment terms
The business has standard payment terms for subcontractors and suppliers.
The standard payment terms for sub-contractor proformas are within 21 days from the authorised proforma date.
The standard payment terms for suppliers/contractors is the last working day of the month (or other such period agreed) immediately following the month in which the supplier submits their invoice for
payment.
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
60 days
No further comment provided
Any other information about payment terms
No further comment provided
Retention clauses
How does this business use retention clauses?
Retention clauses are included in standard payment terms.
Does this business only use retention clauses in construction contracts above a specific contract sum?
No
Does this business use a standard percentage rate in retention clauses?
Yes: 5%
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
No
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Retention payments are released once the retention period is complete and the company is satisfied that the work has been completed to the required standard and no defects have been identified.
Is the money released in stages?
Yes:
12 months and 24 months after completion of works
Amount retained from suppliers in the reporting period
Amount retained stated as a percentage of the money retained from this business by its clients
0%
Amount retained stated as a percentage of the total construction payments made by this business
5%
Dispute resolution process
Initial queries are dealt with by the purchase ledger and sub-contract teams in the accounts department. The teams will work with the invoice or proforma approver to resolve any disputes. Disputes are
escalated to the Commercial Director as appropriate.
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