AIRWAIR INTERNATIONAL LIMITED
Company number: 03009359
Reporting period:
29 March 2026 to 30 September 2026
Report filed on:
30 October 2026
Approved by:
Giles Wilson
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: 41 days
Total value paid:
- within 30 days: £36,475,273 (20%)
- in 31 to 60 days: £35,856,614 (19%)
- in 61 days or more: £113,290,657 (61%)
Invoices paid:
- within 30 days: 55%
- in 31 to 60 days: 22%
- in 61 days or more: 23%
Late and disputed:
- total value of payments due in the reporting period which have not been paid within the agreed period: £56,402,492
- payments due in the reporting period which have not been paid within the agreed period: 33%
- not made in the reporting period due to a dispute: 0%
Payment terms
Shortest standard payment periods
0 days
Longest standard payment period
60 days
Standard payment terms
We request standard payment terms with our suppliers. Based on our supplier base, 87% of suppliers are set up on 30-day payment terms; this percentage is not specific to the reporting period. A further 1% are set up with zero-day payment terms, and a small number of accounts operate on a pro forma basis. The remaining suppliers have payment terms ranging from 1 to 60 days, depending on the terms agreed when each account was established.
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 used in specific circumstances:
Retention clauses may be included on a project-specific basis for certain construction and fit-outworks, where retention forms part of the commercially agreed contractual 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?
No
Does this business apply retention clause practices that are no more onerous than those applied to it on the same project?
Yes:
Airwair International Limited acts as the employer/client under its relevant construction contracts and does not ordinarily have retention applied to it by a customer on the same project. Accordingly, where retention clauses are used with suppliers, there is no corresponding upstream retention against which more onerous terms would be applied.
Releasing money under a retention clause
Process for releasing money this business has deducted or retained under a retention clause
Retention arrangements are agreed on a project-specific basis. Where retention is deducted, the amount is withheld and subsequently released in accordance with the terms and conditions of the relevant construction contract.
Is the money released in stages?
Yes:
Retention is released in stages. Half is released at Practical Completion, subject to receipt of the required contractual handover information. The remaining half is released following completion of the making-good requirements after the 12-month rectification period.
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
We have dedicated staff nominated to each supplier account to resolve any disputes.
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