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Aircraft Closing Checklist |
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Year: |
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Seller Info: |
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Price: |
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Manuf. |
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Escrow Contact: |
FIRST
LAST |
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Model: |
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Buyer Info: |
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SN(s): |
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REG(s): |
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[ REQUESTED, SAVED, DRAFTED, DELIVERED, NOTIFIED ] |
Overall Completion Rate: |
0% |
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|
SQI |
ESCRW |
SELLER |
BUYER |
N/A |
|
LOI, Counter Offers & Deposit |
Date |
Details & Notes… |
0% |
£ |
|
|
1.10 |
£ |
|
|
£ |
£ |
|
Letter of Intent from BUYER |
|
|
0% |
£ |
|
|
SQI |
ESCROW |
SELLER |
BUYER |
N/A |
|
COUNTER OFFERS |
|
|
|
|
|
1.11 |
£ |
|
|
£ |
£ |
|
Executed Counter Offer from BUYER |
|
|
0% |
£ |
|
1.12 |
£ |
£ |
£ |
£ |
£ |
|
Executed Counter Offer from SELLER to BUYER to ESCROW |
|
|
0% |
£ |
|
|
SQI |
ESCROW |
SELLER |
BUYER |
N/A |
|
DEPOSIT & ESCROW |
|
|
|
|
|
1.13 |
£ |
£ |
£ |
£ |
£ |
|
Deposit Confirmed in ESCROW (Notify BUYER & SELLER) |
|
Amount: |
0% |
£ |
|
1.14 |
£ |
|
|
£ |
£ |
|
Aircraft Removed from Market (Notify BUYER) |
|
|
0% |
£ |
|
1.15 |
£ |
£ |
£ |
£ |
£ |
|
ESCROW Assigned Point of Contact (Notify BUYER & SELLER) |
|
|
0% |
£ |
|
1.16 |
£ |
£ |
£ |
£ |
£ |
|
Request Closing ESCROW Fees from ESCROW (Notify BUYER & SELLER) |
|
Total Amount: |
0% |
£ |
|
|
SQI |
ESCROW |
SELLER |
BUYER |
N/A |
|
ADDITIONAL |
|
|
|
|
|
1.17 |
£ |
£ |
£ |
£ |
R |
|
|
|
|
— |
£ |
|
1.18 |
£ |
£ |
£ |
£ |
R |
|
|
|
|
— |
£ |
|
1.10 |
|
|
|
|
|
|
|
|
|
|
£ |
|
2 |
SQI |
ESCRW |
SELLER |
BUYER |
N/A |
|
Aircraft Purchase Agreement (APA) |
Date |
Details & Notes… |
0% |
£ |
|
2.10 |
£ |
|
£ |
|
£ |
|
APA Draft sent to SELLER Review |
|
|
0% |
£ |
|
2.11 |
£ |
|
£ |
|
£ |
|
SELLER Revisions Received & Implemented & Approved |
|
|
0% |
£ |
|
2.12 |
£ |
|
|
£ |
£ |
|
APA Draft Sent to BUYER for Review |
|
|
0% |
£ |
|
2.13 |
£ |
|
|
£ |
£ |
|
BUYER Revisions Received & Implemented |
|
|
0% |
£ |
|
2.14 |
£ |
|
£ |
£ |
£ |
|
SELLER Approved FINAL Draft Sent to BUYER for Execution |
|
|
0% |
£ |
|
2.15 |
£ |
|
£ |
£ |
£ |
|
BUYER Executed APA Sent to SELLER for Execution |
|
|
0% |
£ |
|
2.16 |
£ |
£ |
£ |
£ |
£ |
|
FULLY Executed APA Submitted to ESCROW, SELLER & BUYER |
|
|
0% |
£ |
|
|
SQI |
ESCROW |
SELLER |
BUYER |
N/A |
|
ADDITIONAL |
|
|
|
|
|
2.17 |
£ |
£ |
£ |
£ |
R |
|
|
|
|
— |
£ |
|
2.18 |
£ |
£ |
£ |
£ |
R |
|
|
|
|
— |
£ |
|
1.10 |
|
|
|
|
|
|
|
|
|
|
£ |
|
3 |
SQI |
ESCRW |
SELLER |
BUYER |
N/A |
|
Aircraft Pre-buy Inspection |
Date |
Details & Notes… |
0% |
£ |
|
3.0 |
SQI |
ESCROW |
SELLER |
BUYER |
N/A |
|
INSPECTION |
|
|
|
|
|
3.10 |
£ |
|
£ |
£ |
£ |
|
Inspection Date Set |
|
|
0% |
£ |
|
3.11 |
£ |
|
|
£ |
£ |
|
BUYER Inspection Done |
|
|
0% |
£ |
|
3.12 |
£ |
|
|
£ |
£ |
|
BUYER Acceptance/Rejection of Aircraft |
|
|
0% |
£ |
|
3.13 |
£ |
|
£ |
£ |
£ |
|
BUYER Descrepancy List Sent to SELLER |
|
|
0% |
£ |
|
|
SQI |
ESCROW |
SELLER |
BUYER |
N/A |
|
APA AMENDMENT |
|
|
|
|
|
3.14 |
£ |
|
|
£ |
£ |
|
Amendment Draft sent to BUYER Review |
|
|
0% |
£ |
|
3.15 |
£ |
|
|
£ |
£ |
|
BUYER Revisions Received & Implemented & Approved |
|
|
0% |
£ |
|
3.16 |
£ |
|
£ |
|
£ |
|
Amendment Draft Sent to SELLER for Review |
|
|
0% |
£ |
|
3.17 |
£ |
|
£ |
|
£ |
|
SELLER Revisions Received & Implemented |
|
|
0% |
£ |
|
3.18 |
£ |
|
£ |
£ |
£ |
|
SELLER Approved FINAL Draft Sent to BUYER for Execution |
|
|
0% |
£ |
|
3.19 |
£ |
|
£ |
£ |
£ |
|
SELLER Executed Amendment Sent to BUYER for Execution |
|
|
0% |
£ |
|
3.20 |
£ |
£ |
£ |
£ |
£ |
|
FULLY Executed Amendment Submitted to ESCROW, SELLER & BUYER |
|
|
0% |
£ |
|
|
SQI |
ESCROW |
SELLER |
BUYER |
N/A |
|
ADDITIONAL |
|
|
|
|
|
3.21 |
£ |
£ |
£ |
£ |
R |
|
|
|
|
— |
£ |
|
3.22 |
£ |
£ |
£ |
£ |
R |
|
|
|
|
— |
£ |
|
1.10 |
|
|
|
|
|
|
|
|
|
|
|
|
4 |
SQI |
ESCRW |
SELLER |
BUYER |
N/A |
|
Technical Acceptance, Hard Deposit & Closing Date |
Date |
Details & Notes… |
100% |
© |
|
4.10 |
R |
R |
R |
R |
£ |
|
Technical Acceptance Received from BUYER |
|
APA Schedule E |
100% |
R |
|
4.11 |
R |
R |
|
|
£ |
|
BUYER Technical Acceptance Sent to ESCROW |
|
|
100% |
R |
|
4.12 |
R |
|
R |
R |
£ |
|
SELLER/BUYER Notified/Reminded of Non-Refundable Deposit |
|
|
100% |
R |
|
4.13 |
R |
R |
R |
R |
£ |
|
Closing Date Set |
|
|
100% |
R |
|
|
SQI |
ESCROW |
SELLER |
BUYER |
N/A |
|
ADDITIONAL |
|
|
|
|
|
4.14 |
£ |
£ |
£ |
£ |
R |
|
|
|
|
— |
£ |
|
4.15 |
£ |
£ |
£ |
£ |
R |
|
|
|
|
— |
£ |
|
1.10 |
|
|
|
|
|
|
|
|
|
|
|
|
5 |
SQI |
ESCRW |
SELLER |
BUYER |
N/A |
|
Pre-Closing Documents & Requirements |
Date |
Details & Notes… |
0% |
£ |
|
5.0 |
SQI |
ESCROW |
SELLER |
BUYER |
N/A |
|
TITLE REPORTS |
|
|
|
|
|
5.10 |
£ |
£ |
|
|
£ |
|
Title Reports Received from ESCROW |
|
|
0% |
£ |
|
5.11 |
|
|
£ |
£ |
£ |
|
Title Reports Sent to BUYER and SELLER |
|
|
0% |
£ |
|
|
SQI |
ESCROW |
SELLER |
BUYER |
N/A |
|
LIEN RELEASE |
|
|
|
|
|
5.12 |
£ |
£ |
£ |
|
£ |
|
Lien Release Form Sent to Seller |
|
Form Generated by Escrow |
0% |
£ |
|
5.13 |
£ |
£ |
£ |
£ |
£ |
|
Lien Release Form Received from SELLER & Sent to ESCROW & BUYER |
|
|
0% |
£ |
|
|
SQI |
ESCROW |
SELLER |
BUYER |
N/A |
|
INTERNATIONAL REGISTRY |
|
|
|
|
|
5.14 |
£ |
£ |
|
£ |
£ |
|
BUYER Consent to International Registry or Waiver Signed |
|
|
0% |
£ |
|
5.15 |
£ |
£ |
£ |
|
£ |
|
SELLER Consent to International Registry or Waiver Signed |
|
|
0% |
£ |
|
|
SQI |
ESCROW |
SELLER |
BUYER |
N/A |
|
FAA AIRCRAFT REGISTRATION |
|
|
|
|
|
5.16 |
£ |
£ |
£ |
|
£ |
|
SELLER FAA De-Reg Request Form Created, Signed & Sent to ESCROW |
|
|
0% |
£ |
|
5.17 |
£ |
£ |
|
£ |
£ |
|
BUYER FAA Reg Request Form Created, Signed & Sent to ESCROW |
|
|
0% |
£ |
|
|
SQI |
ESCROW |
SELLER |
BUYER |
N/A |
|
BILLS OF SALE |
|
|
|
|
|
5.18 |
£ |
£ |
£ |
|
£ |
|
SELLER Original FAA Bill of Sale Executed & Sent to ESCROW |
|
FAA Form 8050-2 |
0% |
£ |
|
5.19 |
£ |
£ |
£ |
|
£ |
|
SELLER Original APA Warranty Bill of Sale Executed & Sent to ESCROW |
|
APA Schedule D |
0% |
£ |
|
|
SQI |
ESCROW |
SELLER |
BUYER |
N/A |
|
CLOSING INSTRUCTIONS |
|
|
|
|
|
5.20 |
£ |
£ |
£ |
|
£ |
|
SELLER Closing Instructions Sent to ESCROW |
|
|
0% |
£ |
|
5.21 |
£ |
£ |
|
£ |
£ |
|
BUYER Closing Instructions Sent to ESCROW (if Acq.) |
|
|
0% |
£ |
|
|
SQI |
ESCROW |
SELLER |
BUYER |
N/A |
|
ADDITIONAL |
|
|
|
|
|
5.22 |
£ |
|
|
£ |
£ |
|
BUYER Sales Tax Verification |
|
|
0% |
£ |
|
5.23 |
£ |
|
|
£ |
£ |
|
BUYER Sales Tax Documents |
|
|
0% |
£ |
|
5.24 |
£ |
|
|
£ |
£ |
|
Insurance Certficate for Ferry |
|
|
0% |
£ |
|
5.25 |
£ |
|
£ |
|
£ |
|
Request DAR for Ferry Permit |
|
|
0% |
£ |
|
5.26 |
£ |
|
£ |
£ |
£ |
|
Arrange for Pilot/Captain (SIC) |
|
|
0% |
£ |
|
5.27 |
£ |
|
£ |
£ |
£ |
|
Retrieve Logbooks & Spare Parts for Delivery |
|
|
0% |
£ |
|
5.28 |
£ |
|
£ |
£ |
£ |
|
|
|
|
0% |
£ |
|
5.29 |
£ |
|
£ |
£ |
£ |
|
|
|
|
0% |
£ |
|
1.10 |
|
|
|
|
|
|
|
|
|
|
|
|
£ |
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|
6 |
SQI |
ESCRW |
SELLER |
BUYER |
N/A |
|
Closing |
Date |
Details & Notes… |
0% |
£ |
|
6.10 |
£ |
£ |
£ |
£ |
£ |
|
BUYER Balance of Purchase Funds confirmed in ESCROW |
|
|
0% |
£ |
|
6.11 |
£ |
£ |
£ |
£ |
£ |
|
ESCROW Pre-Closing Statement Received |
|
|
0% |
£ |
|
6.12 |
£ |
£ |
£ |
£ |
£ |
|
BUYER Memorandum of Delivery Sent to ESCROW from BUYER |
|
APA Schedule C |
0% |
£ |
|
6.13 |
£ |
£ |
£ |
£ |
£ |
|
BUYER and SELLER Authorization to Close Notification to ESCROW |
|
|
0% |
£ |
|
6.14 |
£ |
£ |
£ |
£ |
£ |
|
ESCROW Wires Puchase Funds to SELLER |
|
|
0% |
£ |
|
|
SQI |
ESCROW |
SELLER |
BUYER |
N/A |
|
ADDITIONAL |
|
|
|
£ |
|
6.15 |
£ |
£ |
£ |
£ |
R |
|
|
|
|
— |
£ |
|
6.16 |
£ |
£ |
£ |
£ |
R |
|
|
|
|
— |
£ |
|
1.10 |
|
|
|
|
|
|
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Aircraft Sales Agent
President & CEO
Chief Financial Officer
