NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS CONT 17. CURRENT LIABILITIES — TRADE AND OTHER PAYABLES (a) Fair value (b) Foreign exchange and liquidity risk 18. CURRENT LIABILITIES — PROVISIONS Make good provision Onerous contract 19. NON-CURRENT LIABILITIES — PROVISIONS Trade payables are non-interest bearing and are normally settled on agreed terms which are generally up to 30 days� Other payables are non-interest bearing and have an average term of three months� Due to the short-term nature of these payables, their carrying value is assumed to approximate their fair value� Information regarding foreign exchange and liquidity risk exposure is set out in note 4� The Company is required to restore its leased head office premises to its original condition at the end of the lease term� A provision of $200,000  has been recognised for the present value of the estimated expenditure required to remove the leasehold improvements� The provision is expected  to be utilised during the year ending 31 March 2014� The Company no longer uses a leased property and has recognised a provision of $479,000 for the present value of the estimated costs of exiting  the lease� Long service leave 546 512 444 31 Mar 2013  $000 31 Dec 2012  $000 31 Mar 2012  $000  (reviewed ) Trade payables 12,463 17,884 4,728 Other payables 13,592 14,911 6,165 26,055 32,795 10,893 Annual leave 1,984 1,993 1,721 Long service leave 970  889 671 Make good provision 200 - - Onerous contract 479 - - 3,633 2,882 2,392 Annual Report 2013 87