True Blue Air Services

DETAILS

Catalog #: 162725
Catagory: Aircraft -->Sales

Price: CONTACT US
Date Added: November 6, 2023

PROCEDURE FOR PROCUREMENT OF AIRCRAFT; Aircraft buyers and leasing transact strictly and ONLY through competent and respected aircraft escrow services Not principal-to-principal until escrow notify the parties of the appropriate time and that is when due diligence is done and all parties including buyer, seller and the agent/s are protected . We use and recommend Aerotitle Ms Jacinda Janko President 1200 Metropolitan Ave.| Oklahoma City, OK | 73108 T 405.763.5980 | T 866.738.8330 | F 405.763.5999 Email: Jacinda@AEROtitle.com Website: www.AEROtitle.com We require firstly LOI (or draft contract signed) & Mandate. The KYC and POF must be submitted strictly via escrow, after signed contracts are lodged at escrow and both the Seller and the Buyer clears compliance; - Buyer will submit POF and/or deposit 5% minimum of the full purchase value of the aircraft into escrow - Escrow confirms deposit is in place, to Sellers/Owners, - Escrow informs Buyers the MSN and owner has been verified. - Sellers and Buyers both submit an NCNDA to escrow protecting the brokers involved - Escrow informs Buyers of the MSNs (after deposit is generally ok) - Buyers & Sellers go for physical inspection of the aircraft & all records, at the site of the aircraft. Inspection is to validate the aircrafts condition only it is strictly NOT for price negotiation so only technical engineers need be present NOT the sellers principals . - If inspection is satisfactory, at this stage the Deposit becomes "Non Refundable" - Sellers/Owners instruct Escrow to release signed and sealed contract documents to the Buyers. - Sellers/Owners rectify any and all discrepancies, if any, pointed out by the Buyer, as compared to the specs given, at Sellers/Owners cost. - Buyer issues a "Technical Acceptance Certificate" to the Sellers/Owners. If at this stage the Buyers, back out of the sale, without assigning any legitimate reason, not technical reason, the deposit becomes "Non Refundable". However, if the Specs of the aircraft offered do not comply with the actual specs, at inspection, and the Sellers/Owners/ do not rectify the defects or ambiguities pointed out by the Buyers, at Owners expense, and then the deposit becomes 100% Refundable. - At this stage the Buyer deposits the balance of the purchase value into the Escrow Account, with instructions to the Escrow Agent to release the funds to Sellers/Owners account. - On confirmation from Escrow, that they have the 100% value of the aircraft, as per the LOI, Buyer & Sellers/Owners sign the "Sales Agreement". - Ownership changes hands on the records. All warranties attached to the aircraft are transferred to buyers name. Escrow makes all the checks of the existence of the plane, handles the KYC verifies reality of the ownership of these airplanes, checks the titles of registration with the services of the civil aviation of the countries of the nationality of the plane, control, the financial capacity of the buyer, organizes the technical inspection of the aircraft, for its reception, receives all preliminary funds (security deposits) and final (balance), pays all recognized intermediaries and with a commitment of commission payment, finally transfers title deeds to the new owner. Warning; Once contract is signed and deposit made into escrow any attempt to circumvent will result in loss of deposit. Any ICPO, LOI, RWA, or BCL issued and proven not real, true and/or actually verifiability factual, will be communicated to the FBI and or INTERPOL if in case seller or buyer wont perform he will be reported and "black listed internationally" immediately

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