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AIRWAIR INTERNATIONAL LIMITED

Company number: 03009359

Reporting period:
1 October 2021 to 31 March 2022

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This information is as reported by the business, and responses are in their own words.

This report was filed on 19 April 2022

and approved by Jon Mortimore

Payment statistics

Average time taken to pay invoices: 46 days

Invoices paid:

• within 30 days: 55%
• in 31 to 60 days: 31%
• in 61 days or more: 14%

Invoices due but not paid within agreed terms: 33 %

Payment terms

Shortest standard payment period

0 days

Longest standard payment period

60 days

Standard payment terms

We request standard terms with our suppliers. The majority of our suppliers (67%) are paid to 30 day terms.
We have a large number suppliers (24%) set up with 0 payment terms. This is due to our direct debit being set up with no payments terms and accounts for staff expenses. We also have a small number of accounts set up as proforma.
The remainder range from 1 day to 60 days depending on what was negotiated at the time the account was set up.

Were there any changes to the standard payment terms in the reporting period?

No

Maximum contractual payment period agreed

60 days

N/A

Any other information about payment terms

N/A

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 Prompt Payment Code must commit to paying 95% of their invoices within 60 days.

No

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