The Aircraft Purchase Agreement is a crucial document used when transferring ownership of an aircraft in Singapore. It ensures compliance with Singapore's strict aviation regulations and international standards while protecting both seller and purchaser interests. The agreement typically includes detailed aircraft specifications, purchase price, payment terms, conditions precedent, delivery requirements, and warranties. It must conform to Singapore's Air Navigation Act and CAAS requirements, as well as international conventions such as the Cape Town Convention.
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1. Parties: Identification and details of the seller and purchaser
2. Background: Context of the transaction and brief description of the aircraft
3. Definitions: Key terms used throughout the agreement
4. Aircraft Description: Detailed specifications of the aircraft being sold
5. Purchase Price: Price and payment terms
6. Conditions Precedent: Prerequisites for completion of the sale
7. Completion: Process and requirements for closing the transaction
8. Representations and Warranties: Statements of fact and assurances from both parties
9. Covenants: Ongoing obligations of the parties
10. Indemnification: Provisions for compensation in case of losses or breaches
11. Termination: Circumstances and process for ending the agreement
12. Governing Law and Jurisdiction: Choice of law and dispute resolution provisions
1. Financing Provisions: Terms related to any financing arrangements for the aircraft purchase
2. Lease Assignment: Terms for assigning any existing lease agreements
3. Tax Indemnity: Provisions for tax liability allocation in cross-border transactions
4. Insurance: Specific insurance requirements and obligations
5. Registration and Deregistration: Provisions relating to aircraft registration changes
1. Aircraft Specifications: Detailed technical specifications of the aircraft
2. Aircraft Documents: List of required documentation and certificates
3. Delivery Condition Requirements: Specific conditions the aircraft must meet at delivery
4. Form of Acceptance Certificate: Template for the acceptance certificate at delivery
5. Pre-delivery Inspection Protocol: Procedures for pre-delivery inspection
6. Form of Bill of Sale: Template for the transfer of title document
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