Entering into a purchase agreement for a conceptual aircraft is a unique experience even for savvy business professionals familiar with purchase contracts. These agreements can provide a purchaser with the opportunity to potentially acquire a new aircraft in exchange for a commitment of a relatively nominal down payment. From a manufacturer’s perspective, these agreements can gage the interest of prospective purchasers and determine if there is sufficient demand for them to proceed. The aircraft manufacturer typically develops a “mock-up” and provides pre-engineered estimates of specifications before initiating the expensive and time- consuming certification process.
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