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The Aircraft Purchase Letter of Intent (LOI) is a crucial preliminary document used in aviation transactions within Pakistan's legal framework. It serves as the first formal step in aircraft acquisition processes, whether for commercial airlines, private operators, or corporate entities. This document is typically used when parties have reached initial understanding on key commercial terms but before conducting detailed due diligence or drafting the final purchase agreement. The LOI outlines essential terms including aircraft specifications, proposed price, timeline, and exclusivity provisions, while generally maintaining a non-binding nature except for specific clauses. It must conform to Pakistani aviation regulations, including requirements under the Civil Aviation Authority Ordinance and related rules, particularly regarding aircraft registration and ownership transfer. The document provides a structured framework for negotiations while protecting both parties' interests during the preliminary phase of the transaction.

1. Parties: Identification of the potential seller and buyer, including full legal names and addresses

2. Aircraft Details: Specific identification of the aircraft, including make, model, serial number, and current registration

3. Purchase Price: Proposed purchase price and basic payment terms

4. Transaction Timeline: Proposed timeline for due diligence, negotiation of definitive agreements, and closing

5. Due Diligence: Outline of the inspection and documentation review process

6. Exclusivity: Period during which the seller agrees not to negotiate with other potential buyers

7. Confidentiality: Agreement to maintain confidentiality of negotiations and shared information

8. Non-Binding Nature: Clear statement that the LOI is non-binding except for specified provisions

9. Governing Law: Specification that Pakistani law governs the LOI