An Aircraft Purchase Letter of Intent is a crucial preliminary document used in the early stages of aircraft acquisition negotiations in Indonesia. It serves as a roadmap for the transaction, demonstrating serious intent while maintaining flexibility for detailed negotiations. The document must align with Indonesian aviation regulations, particularly Law No. 1 of 2009 on Aviation and related ministerial regulations. It typically includes aircraft specifications, proposed purchase price, timeline for due diligence, and conditions precedent to closing. While most provisions are non-binding, certain clauses such as confidentiality and exclusivity are typically binding. This document is particularly important in Indonesian aviation transactions as it helps establish clear expectations and commitments while navigating the complex regulatory requirements of the Indonesian aviation sector.
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1. Parties: Identification of the potential seller and buyer, including full legal names, registration numbers, and addresses
2. Background: Brief context of the proposed transaction and the parties' intention to enter into an aircraft purchase agreement
3. Definitions: Key terms used in the LOI, including Aircraft description, Deposit, and Timeline definitions
4. Aircraft Description: Detailed specification of the aircraft, including manufacturer, model, serial number, year of manufacture, and current registration
5. Purchase Price: Proposed purchase price and basic payment terms, including any deposits or installment structures
6. Timeline: Proposed schedule for due diligence, negotiation of definitive agreements, and closing
7. Due Diligence: Overview of the inspection and documentation review process
8. Exclusivity: Period during which the seller agrees not to negotiate with other potential buyers
9. Confidentiality: Obligations regarding the confidential treatment of information exchanged
10. Binding Nature: Clear statement of which provisions are binding (typically confidentiality and exclusivity) and which are non-binding
11. Governing Law: Specification of Indonesian law as the governing law
12. Termination: Circumstances under which the LOI may be terminated
13. Signatures: Execution blocks for authorized representatives of both parties
1. Broker/Agent Representation: Include when transaction involves brokers or agents, specifying their roles and commission arrangements
2. Regulatory Approvals: Include when specific regulatory approvals are required, particularly for international transactions
3. Maintenance Condition: Include when specific maintenance requirements or conditions need to be met before purchase
4. Foreign Exchange Provisions: Include when transaction involves multiple currencies or specific exchange rate considerations
5. Third-Party Consents: Include when third-party approvals (such as from lessors or lienholders) are required
6. Assignment Rights: Include when either party may need to assign their rights under the LOI to affiliated entities
1. Aircraft Specifications: Detailed technical specifications of the aircraft, including configuration and equipment
2. Current Maintenance Status: Summary of maintenance history and current status of major components
3. Required Documentation: List of documents to be provided during due diligence
4. Transaction Timeline: Detailed schedule of key dates and milestones
5. Price Structure: Breakdown of purchase price components and payment schedule if complex
6. Due Diligence Checklist: Comprehensive list of items to be reviewed during the due diligence process
Authors
Relevant legal definitions
Clauses
Relevant Industries
Aviation
Aerospace
Transportation
Logistics
Tourism
Business Services
Financial Services
Insurance
Manufacturing
Defense
Emergency Services
Oil & Gas (for corporate aircraft)
Mining (for corporate aircraft)
Healthcare (for medical aircraft)
Relevant Teams
Legal
Finance
Operations
Technical
Procurement
Compliance
Risk Management
Fleet Management
Aviation
Corporate Strategy
Investment
Due Diligence
Insurance
Maintenance
Quality Assurance
Relevant Roles
Chief Executive Officer
Chief Financial Officer
Chief Operating Officer
Fleet Manager
Aviation Director
Technical Director
Procurement Manager
Legal Counsel
Aviation Lawyer
Finance Director
Risk Manager
Compliance Officer
Operations Director
Maintenance Director
Technical Advisory Manager
Investment Manager
Asset Manager
Corporate Secretary
Aviation Insurance Manager
Due Diligence Manager
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