The Aircraft Purchase Agreement is a specialized contract used for documenting the sale and purchase of aircraft under Swiss jurisdiction. It is essential for any aircraft transaction in or involving Swiss parties, incorporating requirements from Swiss aviation law, the Swiss Code of Obligations, and international aviation treaties. The agreement covers critical aspects including aircraft specifications, purchase price, payment terms, delivery conditions, warranties, and regulatory compliance. It's particularly important as aircraft transactions involve significant financial commitment, complex regulatory requirements, and technical specifications. The document serves both private and commercial aviation needs, ensuring legal compliance while protecting both parties' interests under Swiss law.
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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
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Core agreement to sell and purchase the aircraft
5. Purchase Price and Payment Terms: Agreed price, payment schedule, and method of payment
6. Deposit: Terms and conditions of the initial deposit and escrow arrangements
7. Conditions Precedent: Conditions that must be satisfied before closing
8. Pre-Delivery Inspection: Rights and procedures for aircraft inspection before delivery
9. Delivery and Acceptance: Process, location, and conditions for aircraft delivery and acceptance
10. Title and Risk: Transfer of title and risk allocation
11. Seller's Representations and Warranties: Warranties regarding aircraft condition, title, and compliance
12. Buyer's Representations and Warranties: Warranties regarding authority and ability to complete purchase
13. Indemnification: Mutual indemnification provisions
14. Insurance: Insurance requirements during delivery and transition
15. Default and Termination: Events of default and termination rights
16. Notices: Communication procedures between parties
17. Governing Law and Jurisdiction: Swiss law as governing law and jurisdiction provisions
18. Miscellaneous: Standard boilerplate provisions including amendments, waivers, and severability
1. Trade-in Provisions: Include when another aircraft is being traded in as part of the transaction
2. Financing Contingency: Include when buyer's purchase is contingent on obtaining financing
3. Training and Support: Include when seller is providing pilot or maintenance training
4. Maintenance Program Transfer: Include when existing maintenance programs are being transferred
5. Export/Import Assistance: Include when aircraft will be exported/imported between jurisdictions
6. Escrow Agent Provisions: Include when using an escrow agent for the transaction
7. Broker Provisions: Include when aircraft brokers are involved in the transaction
1. Aircraft Specifications: Detailed technical description of the aircraft
2. Aircraft Documents: List of all aircraft documentation to be delivered
3. Delivery Condition Requirements: Specific conditions the aircraft must meet at delivery
4. Pre-Delivery Inspection Protocol: Detailed procedures for the pre-delivery inspection
5. Form of Acceptance Certificate: Template for the aircraft acceptance certificate
6. Payment Schedule: Detailed schedule of payment installments if applicable
7. Insurance Requirements: Specific insurance coverage requirements
8. Form of Bill of Sale: Template for the aircraft bill of sale
9. Warranty Terms: Detailed warranty terms and conditions
10. Service Bulletin Status: List of completed and pending service bulletins
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