The Aircraft Purchase Agreement is a crucial document used in aviation transactions under New Zealand jurisdiction. It is essential when transferring ownership of aircraft between parties, whether for commercial fleet expansion, private use, or business operations. The agreement must comply with New Zealand's Civil Aviation Act 1990, Contract and Commercial Law Act 2017, and relevant international aviation conventions. It typically includes comprehensive details about the aircraft, purchase terms, regulatory requirements, warranties, and delivery conditions. This document is particularly important as aircraft transactions involve significant financial commitment and complex regulatory requirements, requiring careful attention to both technical specifications and legal compliance.
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1. Parties: Identification of seller and buyer with full legal names and addresses
2. Background: Context of the transaction and brief description of the aircraft being sold
3. Definitions: Defined terms used throughout the agreement, including technical aviation terminology
4. Sale and Purchase: Core agreement for the sale and purchase of the aircraft, including identification of the aircraft
5. Purchase Price and Payment: Purchase price, payment schedule, deposit requirements, and payment methods
6. Conditions Precedent: Conditions that must be satisfied before completion of the purchase
7. Pre-Delivery Inspection: Rights and procedures for aircraft inspection before delivery
8. Delivery and Acceptance: Terms and procedures for aircraft delivery and acceptance, including location and timing
9. Title and Risk: Transfer of title and risk provisions, including warranties of title
10. Seller's Warranties: Warranties regarding aircraft condition, airworthiness, and ownership
11. Buyer's Warranties: Warranties regarding authority to purchase and compliance with laws
12. Regulatory Compliance: Obligations regarding aviation authority requirements and registrations
13. Default and Termination: Events of default and termination rights
14. Indemnification: Mutual indemnification provisions for various risks
15. Governing Law and Jurisdiction: New Zealand law as governing law and jurisdiction for disputes
16. General Provisions: Standard boilerplate provisions including notices, amendments, and entire agreement
1. Financing Arrangements: Required if the purchase involves third-party financing or security arrangements
2. Lease-Back Provisions: Include if the seller will lease back the aircraft after sale
3. Maintenance and Transition Services: Include if seller will provide maintenance or transition services post-sale
4. Insurance: Detailed insurance requirements if specific coverage is required during transition
5. Training: Include if seller will provide pilot or maintenance training
6. Export/Import Requirements: Required if aircraft will be exported/imported as part of the transaction
7. Escrow Arrangements: Include if using an escrow agent for the transaction
8. Tax Provisions: Detailed tax provisions if complex tax implications exist
9. Broker Provisions: Include if aircraft brokers are involved in the transaction
1. Schedule 1 - Aircraft Description: Detailed description of aircraft including registration, manufacturer, model, serial numbers
2. Schedule 2 - Aircraft Documents: List of all aircraft documentation to be delivered with the aircraft
3. Schedule 3 - Technical Acceptance Criteria: Specific technical and physical condition requirements for acceptance
4. Schedule 4 - Delivery Condition Requirements: Detailed requirements for aircraft condition at delivery
5. Schedule 5 - Payment Schedule: Detailed breakdown of payment terms and milestone payments
6. Schedule 6 - Pre-Delivery Inspection Protocol: Procedures and requirements for pre-delivery inspection
7. Schedule 7 - Delivery Protocol: Procedures and documentation required for delivery and acceptance
8. Schedule 8 - Warranties: Detailed warranty terms and conditions
9. Appendix A - Form of Delivery Acceptance Certificate: Template for the delivery and acceptance certificate
10. Appendix B - Form of Bill of Sale: Template for the aircraft bill of sale
Relevant legal definitions
Clauses
Relevant Industries
Aviation
Transportation
Manufacturing
Tourism
Emergency Services
Mining
Agriculture
Insurance
Financial Services
Legal Services
Commercial Real Estate
Oil & Gas
Relevant Teams
Legal
Finance
Operations
Technical Operations
Procurement
Risk Management
Compliance
Aviation Safety
Fleet Management
Commercial
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Fleet Manager
Aviation Lawyer
Commercial Lawyer
Risk Manager
Procurement Manager
Technical Operations Director
Chief Pilot
Maintenance Manager
Compliance Officer
Insurance Manager
Finance Director
Operations Director
Aviation Consultant
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