Document background
The Aircraft Pre Purchase Agreement serves as a critical document in aircraft transactions within the Indian jurisdiction, establishing the framework for aircraft inspection and potential purchase. It is used when a prospective buyer wishes to evaluate an aircraft before finalizing the purchase, typically following initial negotiations but before a final purchase agreement. The document addresses key aspects required by Indian aviation regulations, including DGCA compliance, technical inspection protocols, and ownership transfer requirements. It incorporates provisions from the Aircraft Act 1934 and related regulations, while also considering international aviation standards. The agreement protects both parties by clearly defining inspection rights, acceptance criteria, payment terms, and conditions for proceeding with or terminating the potential purchase.
