PAYMENT SCHEDULES
Thirty-five
(35%) percent of the total airplane price is due and payable in U.S. Dollars
when the contract is signed and the order placed with the company.
A progress
payment of a further thirty-five (35%) percent is payable at "green
aircraft rollout". This means
after the aircraft has received its airworthiness certificate, but prior to
installation of avionics and prior to being painted.
The
balance of payment of thirty (30%) percent is due prior to delivery of the
aircraft and following inspection/acceptance flight by a designated official or
acceptance.
The
progress payment and final payment shall be made in cash, by wire transfer or
by irrevocable Letter of Credit.
ADVANCE TO NEXT PAGE
RETURN TO TABLE OF CONTENTS
PAGE 24