Well Structure Acquisition Process of Private Jets

[Will Smith]

Life acceleration makes us realize the value of time wasted while waiting at airports for delayed flights. Activities or meetings need to be moved at another date or time until you arrive. This makes you think about private aircrafts, which is a faster, easier, more customized way to reach any destination in the world.

Fortunately, flying in a private jet is one of the most secured and conducive ways to travel. These jets fly from smaller suburban airports that are near to departure and destinations letting you have the convenience of leaving from where you want. You don’t have to fret about long lines or delays as smaller airports are less likely to be crowded and with private jets you get the vip treatment.

Acquisition of private jet

Aviation experts share the view that if you spend around or over 350 to 400 hours of flight time per year then it is wise to own a jet. Otherwise, you can take account the alternatives such as aircraft charter, fractional ownership or jet cards.

Before owning a jet, it is good to structure the acquisition process by taking care of the aspects.

• Choosing an aviation company
  
  Choosing the right aviation company is a crucial part of the acquisition process. It is desirable to be involved with the professionals well versed in private jet sale and also delivery. You must agree to the terms and conditions of this high level acquisition with the company to avoid legal wrangling.
  
  The purchase and sale of aircrafts is governed by the ordinary Sale of Goods Law. Standard purchase agreements must incorporate commercial terms and conditions such as price, delivery schedule, description of the aircraft and also general terms including exclusion of liability, taxes and duties, warranties as well as assignment. The acquisition process is highly dependent on whether you are purchasing new or used jet.
  
  
• Seller or Manufacturer Warranties
  
  The seller must designate the buyer rights such as warranty with respect to the aircraft. This can include warranties, guarantees, services and support contracts for the aircraft, engines and auxiliary power unit.
  
  
• Registering the Aircraft
  
  All aircraft must be registered with internationally known jurisdiction providing evidence of nationality and ownership. An aircraft must take into account the nationality of the jurisdiction and therefore subject to the regulations of the governing register.
  
  
• Insurance

You must also obtain appropriate insurance cover for the safeguarding against the usual risks as well as the unexpected ones. There is always a possibility for exposure to third party risks, and liability for death and personal injury, bespoke coverage is advisable. A company lending private jet services can guide you to the proper companies offering insurance for such aircraft.

Equipping yourself with experts with a good knack of the aviation industry is always conducive. The right structure and procedures is mandate for going a long way to prevent any type of possible complication at a later stage.