Aircraft escrows or aviation escrows have been around for some time, and offer affordable protection as the sale and purchase of aircraft, whether new or second-hand, can be a complex issue involving large sums of monies as well as dealings between several parties inclusive of national registries.
Escrow Custodian Services are able to provide escrow services in a number of aircraft or aviation transactions.
By using an aircraft escrow you are affording protection and simplicity with equal benefits to both parties, inclusive of ease of transaction. Escrow Custodian Services can hold all of the funds as an impartial agent and will take responsibility for release to the relevant parties at the point of completion.
From the buyer’s perspective:
From the seller’s perspective:
Private charter flight escrows
As well as the buying and selling of aircraft, today there is also a growth in escrows for financial protection where an aircraft is booked for charter flights.
As air travel becomes even more commonplace we are seeing that those booking private charter flights are seeking ways of protecting their financial investment until their flight takes off.
Simply, the deposits are held in an escrow account until the flight occurs, and in some cases, even more protection may be afforded as some operators ask for payment in full – in advance.
If the charter operator ceased trading or ran into other difficulties, there is a risk that the advanced payments may be lost. This risk is reduced by holding the funds in an escrow account.
What about ABTA or CAA?
For members of the general public there are some measures in place to protect, but no such scheme exists for buyers of sole use air charter.
To learn more or to discuss a specific application (without obligation) call 0207 856 0129 and speak to a member of the Escrow Custodian Services team or email firstname.lastname@example.org