Buying a commercial aircraft or private jet can sometimes be a risky process, and without the help of an experienced Aviation Solicitor, you could fall foul of one of the many rules and regulations.
Our team of experts can help you plan ahead, avoiding any unforeseen issues along the way and ensure that all the necessary steps are taken quickly and efficiently.
We can guide you through the red tape and ensure that both buyer and seller are happily bound in a legal agreement, leaving both parties with complete peace of mind.
For initial legal advice get in touch with our Aviation Solicitors.
More information on Aircraft Sales
For any aircraft sale to go through, an Aircraft Sales Agreement will need to be in place. This is a legal contract between two business entities, where one is looking to purchase an aircraft from the other.
This lengthy document sets out all the terms and conditions of the sale, and takes into account factors like what condition the aircraft is in, or whether it complies fully with airworthiness standards.
This agreement is much like an aircraft - it has many components. However, our Aviation Solicitors are here to ensure that nothing is missed, and that due diligence is fully undertaken.
An Aircraft Sales Agreement will usually consist of terms such as:
- The make and model of the aircraft
- Timeframe of delivery
- Quality standards
- Payment structure
- Schedule of responsibilities
To ensure a smooth sale, our specialist Aviation Solicitors will review the agreement and advise you throughout the process.
What information must be included in an Aircraft Sales Agreement?
Putting together these agreements on behalf of the aircraft seller can be laborious, but our qualified Aviation Solicitor’s make light work of this. We’ll guide you through the agreement, making sure you include everything that is necessary.
You’ll need to know a few things, such as:
- Are they an individual or a company? Who has authority to legally bind the document?
- Can the documents be entered into by fax or other electronic means?
- A list of equipment and documents that are included in the price should be detailed fully.
- Is the purchaser entitled to have the aircraft surveyed and to test fly it?
- How much deposit should be paid?
- What happens if the purchaser pulls out of the sale?
- What currency is to be paid?
- Is VAT available?
How is payment to be made?
- How can you be sure the payment is cleared by your bank before releasing the aircraft?
- What conditions do you wish to impose?
What if the buyer doesn’t take delivery or pay the balance on time?
- Are you entitled to interest and recompense for other expenses if you agree to delay?
- Are you entitled to terminate the agreement?
That will give you some idea of how an Aircraft Sales Agreement works, but don’t worry, we’ll go through it all with you and ensure all corners are covered.
Our Aviation Solicitors are recommended in the Legal 500 for their aviation expertise.