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Aircraft Purchase Letter Of Intent Template for Singapore

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Key Requirements PROMPT example:

Aircraft Purchase Letter Of Intent

"I need an Aircraft Purchase Letter of Intent for buying a Boeing 737-800 from Singapore Airlines, with a target closing date of March 2025 and an exclusivity period of 60 days, including specific provisions for maintenance record reviews and pre-purchase inspections."

Document background
An Aircraft Purchase Letter of Intent is a crucial preliminary document used in aviation transactions to establish the framework for aircraft acquisition negotiations. This document, governed by Singapore law, serves as a roadmap for the transaction, outlining key commercial terms while allowing flexibility for detailed negotiations. It typically precedes the definitive purchase agreement and includes essential elements such as aircraft specifications, pricing, payment structure, and conditions precedent. The document must align with Singapore's robust aviation regulatory framework, including CAAS requirements and international aviation conventions. While generally non-binding in nature, certain provisions may be explicitly made binding to protect parties' interests during negotiations.
Suggested Sections

1. Parties: Identification of buyer and seller, including full legal names and registration details

2. Background: Brief context of the intended aircraft purchase transaction

3. Definitions: Key terms used throughout the LOI

4. Aircraft Description: Detailed specification of the aircraft including make, model, serial number, and current registration

5. Purchase Price: Agreed purchase price and payment structure

6. Deposit Terms: Amount, timing, and conditions of deposit payment

7. Due Diligence: Terms for inspection and technical review of the aircraft

8. Timeline: Key dates and deadlines for the transaction

9. Binding Nature: Clear statement of which provisions are binding and non-binding

Optional Sections

1. Exclusivity: Period during which seller cannot negotiate with other parties

2. Confidentiality: Terms of information confidentiality and non-disclosure obligations

3. Break Fee: Compensation provisions if either party withdraws from the transaction

4. Financing Contingency: Conditions related to buyer's financing arrangements and requirements

Suggested Schedules

1. Schedule 1 - Aircraft Specifications: Detailed technical specifications of the aircraft including configuration and equipment

2. Schedule 2 - Due Diligence Requirements: Comprehensive list of required inspections, tests, and documentation review

3. Schedule 3 - Transaction Timeline: Detailed schedule of key dates, milestones, and deadlines for the transaction

4. Schedule 4 - Required Documentation: List of certificates, permits, maintenance records, and other required documentation

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions





































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Industries

Civil Law Act (Cap. 43): Primary Singapore legislation governing civil law matters and contractual relationships

Contract Law: Singapore contract law principles based on English common law, governing formation and enforcement of contracts

Air Navigation Act (Cap. 6): Primary legislation governing aviation matters in Singapore, including aircraft ownership and operation

Sale of Goods Act (Cap. 393): Legislation governing the sale and purchase of goods, including aircraft as movable property

CAAS Regulations: Civil Aviation Authority of Singapore regulations governing aviation safety, operations, and registration requirements

Air Navigation Order: Subsidiary legislation under the Air Navigation Act detailing specific aviation requirements and procedures

Singapore Airworthiness Requirements: Technical standards and requirements for aircraft airworthiness certification in Singapore

Cape Town Convention: International treaty governing security interests in mobile equipment, including aircraft

Chicago Convention: Convention on International Civil Aviation establishing basic principles of international air navigation

Aircraft Equipment Protocol: Protocol to the Cape Town Convention specifically addressing aircraft equipment

CAAS Registration Requirements: Specific requirements for registering aircraft in Singapore's aircraft registry

Singapore Customs Regulations: Regulations governing import/export of aircraft and related equipment

Strategic Goods (Control) Act: Legislation controlling the transfer and export of strategic goods, including certain aircraft and aviation equipment

MAS Regulations: Monetary Authority of Singapore regulations governing financial aspects of aircraft transactions

Anti-Money Laundering Regulations: Regulations to prevent money laundering in high-value transactions including aircraft purchases

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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