The Aircraft Purchase Letter of Intent serves as an essential preliminary step in aircraft acquisition transactions under Swiss law. It is typically used when parties have reached a general understanding of the key commercial terms but need to formalize their intentions before proceeding with detailed due diligence and negotiating the final purchase agreement. The document establishes the framework for the transaction, including aircraft details, proposed price, timeline, and key conditions, while providing protection for both parties through provisions like exclusivity and confidentiality. It's particularly important in Swiss aviation transactions due to specific regulatory requirements and the complex nature of aircraft purchases. The Letter of Intent helps manage expectations, allocate responsibilities, and create a clear roadmap for the transaction while maintaining flexibility for final negotiations.
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1. Parties: Identification of buyer and seller with full legal names and addresses
2. Background: Brief context of the proposed transaction and purpose of the LOI
3. Definitions: Key terms used throughout the LOI including Aircraft, Deposit, Purchase Price, etc.
4. Aircraft Description: Detailed identification of the aircraft including manufacturer, model, serial number, and registration
5. Purchase Price: Proposed purchase price and currency
6. Payment Terms: Structure of payments including deposits and final payment
7. Timeline: Key dates and deadlines for the transaction
8. Due Diligence: Rights and process for technical inspection and document review
9. Conditions Precedent: Conditions that must be met before proceeding with the purchase agreement
10. Binding/Non-Binding Provisions: Clear statement of which provisions are binding and non-binding
11. Exclusivity: Period during which seller cannot negotiate with other parties
12. Confidentiality: Requirements for maintaining confidentiality of the transaction
13. Governing Law: Specification of Swiss law as governing law
14. Signatures: Execution blocks for all parties
1. Broker Representation: Details of any brokers involved and their roles - include if brokers are part of the transaction
2. Escrow Agent: Identity and role of escrow agent - include if using escrow services
3. Foreign Registration: Provisions for de-registration and export - include if aircraft currently registered outside Switzerland
4. Financial Contingency: Conditions related to buyer's financing - include if purchase depends on financing
5. Insurance Requirements: Special insurance requirements during inspection - include if specific insurance needs exist for inspection period
6. Transaction Costs: Allocation of costs and fees - include if non-standard cost allocation
7. VAT and Import Duties: Special provisions for tax treatment - include if international transaction
1. Aircraft Specifications: Detailed technical specifications of the aircraft
2. Equipment List: List of included equipment, components, and accessories
3. Maintenance Status: Summary of maintenance status and upcoming maintenance requirements
4. Document List: List of aircraft documents to be reviewed during due diligence
5. Payment Schedule: Detailed breakdown of payment terms and timeline
6. Pre-Purchase Inspection Scope: Detailed scope of the technical inspection
Relevant legal definitions
Clauses
Relevant Industries
Aviation
Aerospace
Transportation
Logistics
Financial Services
Insurance
Legal Services
Manufacturing
Relevant Teams
Legal
Finance
Operations
Procurement
Compliance
Risk Management
Technical Operations
Fleet Management
Executive Leadership
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Fleet Manager
Aviation Director
Legal Counsel
Procurement Manager
Technical Director
Compliance Officer
Risk Manager
Aircraft Transaction Specialist
Aviation Finance Manager
Operations Director
Commercial Director
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