Aircraft Listing Agreement

An aircraft listing agreement is a legal document that governs the relationship between an aircraft owner and a broker who is hired to sell the aircraft. This agreement is essential when an aircraft owner wants to sell their aircraft because it outlines the terms and conditions of the sale, including the broker’s commission, the sale price, and the duration of the listing period.

Before signing an aircraft listing agreement, it’s essential to understand what it entails. Aircraft owners should take the time to review and understand the terms and conditions of the agreement before signing it. This is especially important because the agreement will determine how the broker will sell the aircraft and the commission they will receive once the sale is completed.

One key factor to consider in an aircraft listing agreement is the commission structure. Brokers are typically paid a commission that is based on a percentage of the sale price of the aircraft. The commission percentage can vary from broker to broker, but it`s usually around 5-6% of the sale price.

Another important aspect of the agreement is the duration of the listing period. This specifies how long the broker will have exclusive rights to market and sell the aircraft. The duration of the listing period can vary, but it`s typically around six months.

To ensure that the aircraft listing agreement is legally binding, it`s important to have it reviewed by an attorney who specializes in aviation law. This will help to ensure that the agreement is enforceable and legally binding.

In conclusion, an aircraft listing agreement is a critical document that should be carefully reviewed and understood by both the aircraft owner and the broker. The agreement outlines the terms and conditions of the sale, including the broker’s commission, the sale price, and the duration of the listing period. To ensure that the agreement is legally binding, it`s important to have it reviewed by an attorney who specializes in aviation law.