Nov. 1, 2021
Compliance with export and licensing requirements plays a significant role in any transaction for an aircraft sold or leased to a foreign person and exported outside the U.S., or when a U.S.-registered aircraft is based outside the U.S., regardless of ownership.
Aircraft buyers, sellers and others involved in aircraft transactions are encouraged to attend a Nov. 10 webinar, hosted jointly by NBAA and the General Aviation Manufacturers Association (GAMA), to learn best practices for aircraft exports from regulators who are experts in the field.
Failure to comply with the complex requirements from the FAA, Customs and Border Protection and U.S. Department of Commerce, among other agencies, can result in large fines and even the seizure of the aircraft. Recent general aviation aircraft seizures resulting from noncompliance, including failure to submit Electronic Export Information filings in connection with the permanent export of an aircraft from the U.S., highlight the need to fully understand the aircraft export process.
“FAA requirements, including de-registration and export certificate of airworthiness, are part of the process, but there are additional requirements that aircraft buyers and sellers must add to their checklist,” said Scott O’Brien, NBAA’s senior director of public policy and advocacy. “This webinar provides a unique opportunity for business aviation professionals to hear directly from the regulators who oversee aircraft exports and licensing.”
- Gerard (Gerry) J. Horner, supervisor, Trade Regulations Branch, Economic Management Division, U.S. Census Bureau
- Tim Mooney, senior export policy analyst, Regulatory Policy Division, Bureau of Industry and Security
These experts will not only share best practices for export compliance but will also analyze a series of unique scenarios, describing responsibilities, requirements and procedures of a successful transaction.