Security Agreement Form

Instructions on How to Properly Fill Out Your Aircraft Security Agreement Form

Need help filing your security agreement form in order to establish evidence in regard to a particular security interest? Well, should that be the case, then we’re here to help you out.

Filing For a Security Agreement Form

Among the many other forms relevant to the Federal Aviation Administration, the security agreement form will allow you to provide evidence of a potential security interest. The information provided will be, in turn, used by the FAA’s aircraft registry in the formal recording of security interests. This will be very useful when it comes to establishing security at the time of applying to loans, as well as other financial and mortgage matters that might involve the need for a security agreement.

Requirements For the Aircraft Security Agreement

Through the corresponding security agreement form, you are going to be able to file for and record an aircraft security agreement. However, you are going to need a few things in order for it to be valid. Let’s go over everything you’ll be needing as part of the process of this agreement:

  • The names of the parties subject to the security agreement.
  • Words that state that the aircraft owner is granting the secured party a security interest in the collateral.
  • The description of the collateral by way of the name of the manufacturer, the model designation, the serial number, and the N-number.
  • The signatures in ink of the debtor and aircraft owner, showing the signer’s title as appropriate.
  • A recording fee of $5.00 USD for each item of collateral (be that the aircraft, the engine, the propeller, or a location). This recording fee needs to be made payable to the Federal Aviation Administration.

Other Collateral Items

Part of the process of getting your aircraft security agreement in place will involve specifying what the collateral will be. In the words of the Federal Aviation Administration, “besides aircraft; engines and propellers capable of more than 550 rated take-off horsepower, propellers capable of absorbing more than 750 rated take-off horsepower, and air carrier spare parts locations may be identified as individual items of collateral.” Sp, when establishing the collateral as part of this overall form, remember to thoroughly describe the engines and propellers with  the manufacturer name, model name, and serial number to describe engines and propellers. And, when it comes to spare parts, describe them using their city, state, and location.

Security Agreement Form
Submit Your Forms to the Federal Aviation Administration

Not a lot of stuff is more tedious than administrative paperwork, and as exciting as owning an aircraft is, the required documentation is no exception. Because of this, we at the National Aviation Center are well aware of this fact, which is why we’ve made sure to make it all easier for you. Here on our website you’ll be able to find everything you need when it comes to filing your paperwork with the Federal Aviation Administration, be it for initial registration, renewal, or reinstatement. And, regardless of what it is you need help with, be sure to reach out to our team with your doubts and questions and we’ll make sure to answer them.