If you are looking to officially have an aircraft be collateral in any sort of transaction, you will have to file an FAA security agreement. Everything you need to do is right here on our site.
FAA Security Agreement
In order to establish aircraft and related equipment as collateral, there needs to be an FAA security agreement in place. This official document can be submitted to the Federal Aviation Administration in order to receive an official Conveyance Recordation Notice, which will describe the aircraft (as well as engines, propellers, and locations if included), list the parties and date of the security agreement, and show the FAA recording number as well as the date of recordation. This can be used as a release if the secured party signs it and returns it to the Aircraft Registration Branch. Another acceptable release can be a letter signed by the secured party in which the same information is outlined along with a statement releasing all the secured party’s rights and interest in the collateral.
What Must a Security Agreement Do?
In order for an FAA security agreement to be made official, it must include specific information about all the parties involved. Here is a quick breakdown of the information that must be provided as part of the process.
- The agreement must state the names of the parties to the agreement
- It must state that the aircraft owner grants the secured party a security interest in the collateral.
- It has to identify the collateral with the manufacturer name, model designation, serial number, and N-number.
- The agreement will have to contain the ink signatures of the debtors/aircraft owners showing the signer’s title as appropriate.
- Lastly, it will have to include a recording fee for each item of the collateral (meaning aircraft, engine, propeller, or location), which will have to be made payable to the Federal Aviation Administration.
Submitting the Agreement
With all the necessary information about the FAA security agreement and what it has to include, you should now be able to submit it. Well, easy. You will find the form to fill out and create the agreement here on our website, readily available on our sidebar menu. Once it’s ready, we can make sure everything is in order so that you don’t experience any delays and submit it to the Federal Aviation Administration. You will soon receive an official Conveyance Recordation Notice.
File For Your Security Agreement
Federal Aviation Administration paperwork can be all sorts of stressful and inconvenient, just like any other government administrative application. However, here at the National Aviation Center, we want to make sure that you’re able to go through these processes easily and efficiently. After all, here on our platform, you will be able to find all the relevant application forms you might need in regard to your aviation documentation. If you have any questions at some point in this process, feel free to reach out to us through our contact page. This way, you’ll be able to get all the help you need in filing your forms to the Federal Aviation Administration.