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Aircraft Purchase And Sale Agreement

Aircraft Purchase And Sale Agreement Template for United Arab Emirates

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Key Requirements PROMPT example:

Aircraft Purchase And Sale Agreement

"I need an Aircraft Purchase and Sale Agreement for buying a Boeing 787 from Emirates Airlines, with delivery scheduled for March 2025 in Dubai, UAE, compliant with GCAA regulations."

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Document background
The Aircraft Purchase And Sale Agreement is a crucial document used in aviation transactions within the UAE jurisdiction. It is specifically designed for transactions involving the transfer of aircraft ownership, whether for commercial airlines, private operators, or leasing companies. The agreement must comply with UAE Civil Aviation Law (Federal Law No. 20 of 1991) and subsequent regulations, while also considering international aviation conventions. This document is essential when conducting aircraft sales in or through the UAE, providing a comprehensive framework for the transaction including technical specifications, regulatory compliance, payment structures, and delivery terms. It incorporates necessary provisions for UAE registration and deregistration procedures, making it suitable for both local and international aircraft transactions where UAE law governs.
Suggested Sections

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: Definitions of key terms used throughout the agreement

4. Sale and Purchase: Core agreement for the sale and purchase of the aircraft

5. Purchase Price: Details of the purchase price, payment terms, and method of payment

6. Deposit: Terms relating to the deposit amount, payment, and escrow arrangements

7. Conditions Precedent: Conditions that must be satisfied before completion

8. Pre-Delivery Inspection: Rights and procedures for aircraft inspection before delivery

9. Delivery and Transfer of Title: Process and requirements for aircraft delivery and title transfer

10. Representations and Warranties: Statements of fact and promises by both parties

11. Covenants: Ongoing obligations of the parties

12. Risk and Insurance: Allocation of risk and insurance requirements

13. Default and Termination: Consequences of breach and termination rights

14. Indemnification: Mutual indemnification provisions

15. Notices: Communication requirements and contact details

16. Governing Law and Jurisdiction: Choice of UAE law and jurisdiction provisions

17. General Provisions: Standard boilerplate clauses including assignment, amendments, etc.

Optional Sections

1. Financing Arrangements: Include when third-party financing is involved in the purchase

2. Lease-Back Provisions: Required if the seller will lease back the aircraft after sale

3. Export/Import Requirements: Necessary for international transactions requiring specific customs clearance

4. Training and Support: Include when seller agrees to provide operational training or support

5. Maintenance Transition: Add when specific maintenance program transition terms are needed

6. broker Provisions: Include when brokers are involved in the transaction

7. Tax Structure: Add detailed tax provisions for complex international transactions

8. Security Arrangements: Include when additional security interests are part of the transaction

Suggested Schedules

1. Aircraft Specifications: Detailed technical description of the aircraft, engines, and components

2. Aircraft Documents: List of all technical and maintenance records to be delivered

3. Delivery Condition Requirements: Specific conditions the aircraft must meet at delivery

4. Acceptance Certificate: Form of certificate to be signed at delivery

5. Bill of Sale: Form of bill of sale for the aircraft

6. Warranty Assignment: Assignment of manufacturer and component warranties

7. Deregistration Power of Attorney: Form of power of attorney for aircraft deregistration

8. Protocol of Delivery and Acceptance: Form documenting the physical transfer of the aircraft

9. Insurance Requirements: Detailed insurance specifications and requirements

10. Permitted Liens: List of acceptable liens or encumbrances, if any

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant legal definitions
Acceptance Certificate
Acceptance Flight
Affiliate
Aircraft
Aircraft Documents
Airframe
Airworthiness Directive
APU
Aviation Authority
Bill of Sale
Business Day
Cape Town Convention
Certificate of Airworthiness
Closing
Closing Date
Completion
Conditions Precedent
Confidential Information
Contract Rate
Damage
Default Interest Rate
Delivery
Delivery Date
Delivery Location
Deposit
Engines
Escrow Account
Escrow Agent
Event of Default
Export Certificate of Airworthiness
FAA
Final Inspection
Finance Documents
Force Majeure Event
GCAA
Governmental Authority
International Registry
Landing Gear
Lease
Lender
Lien
Maintenance Program
Manufacturer
Material Adverse Change
Parts
Permitted Liens
Purchase Price
Registration
Regulatory Requirements
Security Interest
Seller Warranties
Service Life
Technical Acceptance
Technical Records
Title
Transaction Documents
Transfer of Title
UAE
Warranty Bill of Sale
Warranty Claims
Clauses
Definitions
Sale and Purchase
Purchase Price
Payment Terms
Deposit
Escrow
Conditions Precedent
Due Diligence
Technical Acceptance
Delivery
Transfer of Title
Representations and Warranties
Covenants
Insurance
Indemnification
Risk Allocation
Regulatory Compliance
Registration Requirements
Export/Import Requirements
Taxes
Force Majeure
Default
Termination
Remedies
Confidentiality
Assignment
Notices
Amendment
Waiver
Severability
Entire Agreement
Governing Law
Dispute Resolution
Jurisdiction
Counterparts
Third Party Rights
Further Assurance
Time of Essence
Costs and Expenses
Broker Provisions
Language
Relevant Industries

Aviation

Transportation

Financial Services

Insurance

Legal Services

Aircraft Manufacturing

Aircraft Maintenance

Aircraft Leasing

Private Aviation

Commercial Aviation

Relevant Teams

Legal

Finance

Operations

Technical

Compliance

Risk Management

Procurement

Engineering

Insurance

Aviation Safety

Contract Administration

Due Diligence

Relevant Roles

Chief Executive Officer

Chief Financial Officer

General Counsel

Aviation Attorney

Fleet Manager

Procurement Director

Technical Director

Risk Manager

Compliance Officer

Operations Director

Finance Director

Aircraft Engineer

Aviation Consultant

Contract Manager

Insurance Manager

Aviation Finance Manager

Industries
UAE Civil Aviation Law - Federal Law No. 20 of 1991: Primary legislation governing civil aviation in the UAE, including requirements for aircraft registration, ownership, and transfer of title
UAE Civil Code (Federal Law No. 5 of 1985): Governs general contractual principles, obligations, and property transfer rules applicable to aircraft sales
UAE Commercial Transactions Law (Federal Law No. 18 of 1993): Regulates commercial transactions and business dealings, including rules on commercial sales and purchases
Cape Town Convention and Aircraft Protocol: International treaty governing security interests in aircraft equipment, which UAE has ratified, affecting registration and transfer of aircraft
GCAA Civil Aviation Regulations: Detailed regulations issued by the General Civil Aviation Authority covering technical requirements, safety standards, and registration procedures
UAE Federal Law No. 4 of 2012 on Civil Aviation: Updates and supplements the original aviation law, providing modern framework for aviation activities including aircraft transactions
UAE Anti-Money Laundering Law - Federal Decree Law No. 20 of 2018: Relevant for high-value transactions like aircraft sales, requiring due diligence and reporting of suspicious transactions
Chicago Convention on International Civil Aviation: International convention establishing standards for aircraft registration and transfer, which UAE must comply with as a signatory
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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