E1 Aircraft Share Agreement: Shared Ownership Model

£35.74 (including 20 % tax)

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This agreement is very comprehensive and, amongst other issues, deals with the following:

• The ownership of the aircraft and any accessories or equipment related to or found on the aircraft
• Management of the aircraft and decision-making
• Costs splitting procedures
• Reservation procedures for the use of the aircraft
• The allocation of liability between the sharers in the event of damage or accidents
• Prohibitions and requirements regarding the use of the aircraft
• Procedures for admitting new sharers, and for terminating the agreement, including how to sell a share in the aircraft

We recognise that the arrangements for issues such as reservations, cost splitting and use prohibitions on use will need to be different for each aircraft share club depending on the individual circumstances. To allow for such flexibility many parts of the agreement can easily be personalised to meet the needs of a particular sharing group. For example, the agreement provides for all of the running costs of the aircraft to be split between the sharers. The default position is that the various running costs are split equally, except for fuel which is paid for by each sharer depending on how much they have used. It is possible to alter the agreement if required so that costs are divided between the sharers in a different manner.

The agreement comes with extensive Drafting and Guidance Notes which fully explain the operation of the agreement and contain example additional or replacement clauses which may be used to personalise the agreement. The Drafting and Guidance Notes also contain practical tips and useful documents for use within the aircraft share scheme.

For further information about aircraft sharing please see the Aircraft Sharing Factsheet, and the aircraft sharing page of SharingContracts.com