Aircraft Pre Purchase Agreement

It`s a big moment. You bought your dream plane. Don`t let this intoxicating feeling neglect your care at the aircraft`s operation or ferry. Remember that this aircraft is new to you and that you or your crew must familiarize yourself with the aircraft before using or transporting it. Make sure before the flight or ferry of the aircraft that all aircraft manuals, aircraft manuals, warranties, service contracts, etc., are given to the new owner and the documents provided. Some warranties may apply a transfer tax or user fee for the new owner. Most subscriptions and software updates should be transferred or subscribed by the new owner. Buying an aircraft is an exciting, complex and multi-faceted process that should be carried out with the help of a team professional. The procurement process should include a team that includes a qualified aircraft broker, an aeronautical and registration title company, a certified A-P mechanic, an aviation lawyer, a CPA and an aviation finance company. If the aircraft transaction is international and the IR form must be documented in the «International Register» for mobile assets. Your broker/adviser and trust company can help you in this process. Once you have selected the aircraft you want to buy, a letter of intent [LOI] will be established with the terms and conditions of the purchase, which will specify the purchase price, down payment, conditions, inspections, offer process, etc.

If the aircraft is flying above 29,000 feet, it should be RVSM certified and the necessary manuals must be approved and found at your local faa flight standard office. Your aviation advisor/broker can help. If it is very long distance, it must be well planned with fuel and maintenance stops. JetEXE Aviation`s team of consultants and brokers can accompany you and your research and find the right plane for you. Depending on your needs and purchasing power, your mandated advisor and broker will identify and select the aircraft available for sale on the market. For more research, you can visit the plane and first look around. You can even request a demonstration flight, but this is usually done at purchase costs. Once you`ve visited a few different planes of your choice and looked, you`ll have a fair idea of what`s available, what options are on the market and what the prices are. Make sure the aircraft logs are safely transferred to you. Immediately create a copy of all aircraft documents and protocols to keep them safe. At this point, the seller and buyer open a receiver account with a mutually agreed aircraft trust company. Loyalty fees are usually split between buyer and seller.

This fee can be executed between $500 and $5000 depending on the complexity of the transaction and the size of the transaction. International agents may inc afford additional costs.

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