Managing financial transactions in aviation requires a high degree of security, transparency, and trust. YYZlaw’s sister company, EscroAir Canada Inc. (“EscroAir”) offers specialized escrow services tailored for aircraft transactions, ensuring that funds are managed safely and securely throughout the process.
EscroAir’s escrow services provide a neutral third-party platform to manage deposits, purchase funds, and documents related to transactions. They facilitate the smooth transfer of ownership by holding and disbursing funds only when all contractual obligations are met. Whether you are buying, selling, or financing an aircraft, EscroAir’s escrow services offer peace of mind and protection for all parties involved.
Why Choose YYZlaw for Escrow Services?
Security and Trust
EscroAir ensures that funds are managed securely, providing a dependable intermediary to protect the interests of both buyers and sellers.
Expert Guidance
EscroAir’s team of professionals offer specialized insights to manage the complexities of aircraft transactions.
Documentation
EscroAir will manage all necessary documents and ensure compliance with relevant documentation, minimizing risks and avoiding delays.
Custom Solutions
Tailored escrow services to meet the specific needs of each transaction, whether for new or used aircraft, lease agreements, or financing arrangements.
EscroAir’s escrow services are designed to streamline your aviation transactions, providing both parties with confidence and security. Our experience and focus on escrow services mean we understand the unique challenges of the industry and offer solutions that are both efficient and compliant.
International Registry Services
EscroAir provides a combined one-stop experience to meet all your International Registry (IR) needs – whether the establishment of a Transacting User Entity Account (TUE), the registration of a contract of sale or international interest, discharge of an international interest or obtaining priority search certificates relating to aircraft objects. Priority search certificates detail all past registrations and discharges recorded on the aircraft object, including past financings and sales. EscroAir can also provide parties with Entity and Contracting State search results as needed.
Establishing and Administering Transacting User Entity (TUE) accounts to facilitate aircraft transactions
EscroAir as a delegated TUE will, no matter the time zone, ensure the prompt consenting of registrations or authorization requests, on approval/instruction from the TUE entity.
Filing of Contracts of Sale and International Interests
EscroAir will make timely filings on instruction and approval of the named parties.
Discharging International Interests
EscroAir will make timely discharges on instruction and approval of the right to discharge party.
Creating IR Closing Rooms related to aircraft transactions
EscroAir will provide a draft pre-registration report on creation of a Closing Room for review/approval of the parties.
Obtaining Priority Search Certificates relating to aircraft objects
EscroAir will conduct searches at the onset of a transaction, as requested, and post-filing of a registration.
Canadian Aircraft Registration/Deregistration Services
Decades of dealing with Transport Canada, including an earlier employment, gives our team an in-depth understanding of their requirements relating to aircraft registration, and deregistration. This level of understanding allows EscroAir to get filings of aircraft registration applications and deregistration requests, as applicable, right the first time thereby reducing undue delays in aircraft operations or transactions involving a new aircraft registration or an exportation from the Canadian Civil Aircraft Registry (CCAR).
Aircraft Registration with the Canadian Civil Aircraft Registry, including preparation of the aircraft registration application form
EscroAir will complete the application for registration form, ensuring all required documents are attached and submitted electronically. We will monitor the progress and exchange with Transport Canada (TCA), as necessary.
Aircraft registration search
EscroAir will conduct a search on the CCAR to confirm the name(s) of the current Registered Owner and aircraft-specific information available. Current and historical registration information is made public. Of note, the CCAR search will not provide information on the legal owner of an aircraft nor existence of any liens.
Aircraft Deregistration from the Canadian Civil Aircraft Registry
EscroAir will draft the deregistration letter and submit to TCA with the required backup documentation ensuring that the process will be managed smoothly and efficiently. We will monitor the progress and exchange with TCA, as necessary.
Canadian Aircraft Mark Registration Reservation
EscroAir will conduct an available Marks search and complete the application to request reservation of a registration mark or a special mark reservation. We will ensure that all required documentation is submitted with the deregistration request and exchange with TCA, as necessary.
For more information about EscroAir’s Services, please visit https://www.escroair.ca/
