The Aircraft Management Contract serves as the foundational document for professional aircraft management services in the United States. This agreement is essential when aircraft owners seek to delegate operational responsibilities to professional management companies while maintaining ownership rights. The contract addresses crucial aspects including FAA compliance, operational control, maintenance oversight, crew management, insurance requirements, and financial responsibilities. It's particularly important for ensuring clear delineation of roles and responsibilities while maintaining compliance with federal and state aviation regulations.
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1. Parties: Identification of aircraft owner and management company
2. Background: Details of the aircraft and purpose of the management arrangement
3. Definitions: Key terms used throughout the agreement
4. Services: Detailed description of management services to be provided
5. Operational Control: Clear designation of operational control responsibilities
6. Fees and Expenses: Management fees, operating costs, and payment terms
7. Insurance: Required insurance coverage and responsibilities
8. Term and Termination: Duration of agreement and termination provisions
9. Regulatory Compliance: Obligations regarding FAA and other regulatory requirements
1. Charter Operations: Terms and conditions for third-party charter use of the aircraft
2. International Operations: Specific requirements and procedures for international flights
3. Fuel Program: Terms and conditions for fuel procurement and management
4. Hangar Services: Terms and conditions for aircraft storage and hangar services
1. Schedule 1 - Aircraft Specifications: Detailed technical description of the aircraft including registration, make, model, and equipment
2. Schedule 2 - Fee Schedule: Comprehensive breakdown of all management fees and charges
3. Schedule 3 - Insurance Requirements: Detailed specifications for required insurance coverage and limits
4. Schedule 4 - Operating Budget: Projected annual operating costs and expense categories
5. Schedule 5 - Crew Requirements: Specific qualification and training requirements for flight crew
6. Schedule 6 - Maintenance Program: Detailed maintenance requirements, schedules, and procedures
7. Schedule 7 - Standard Operating Procedures: Company policies and procedures for aircraft operations
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