AWG produces standard documents for the elective use by the aviation industry. All work on documentary standardization is undertaken in accordance with strict compliance guidelines produced by leading international counsel.
2024 lease transfer documentation
In order to streamline documentary negotiations between lessors and airlines when dealing with the transfer of leases in connection with an aircraft sale, the AWG has published a set of lease transfer principles and an updated standard set of lease transfer documentation for promotion and usage within the industry.
The project documentation, embodying customary industry terms, seeks to make the process for transferring leases more efficient for all parties involved both from a time and costs perspective, reducing the level of legal commentary required on the documents and reflective of a balanced position between lessors and airlines.
The project documentation consists of the following:
- 2024 Lease Transfer Documentation – Narrative Document
- 2024 Lease Transfer Principles
- 2024 Template Transfer Provisions
- 2024 Aircraft Lease Novation and Amendment Agreement
- 2024 Aircraft Assignment and Assumption Agreement
Warranty assignments and engine title recognition agreement
AWG and IATA produced several standardized and template documents for use in English law governed and New York law governed aviation transactions. Any transaction parties, may utilize these standardized documents. Each standardized document is designated as a template document and is intended to be used as a framework for efficient negotiations. Transaction parties may modify or deviate from the terms of the standardized documents as they deem fit.
User guides and commentaries have been prepared for use in connection with such documents. The purpose of each user guide is to provide technical assistance to transaction parties by providing practical guidance on the terms of the relevant standardized document.
The AWG and IATA standardized templates for each of the following documents are:
English law
- Warranty assignment and consent (variant 1) for use in simple one tier structures [PDF] [Word doc]
- Warranty assignment and consent (variant 2) for use in two or more tier structures [PDF] [Word doc
- Engine title recognition agreement [PDF] [Word doc]
New York law
- Warranty assignment and consent (variant 1) for use in simple one tier structures [PDF] [Word doc]
- Warranty assignment and consent (variant 2) for use in two or more tier structures [PDF] [Word doc
- Engine title recognition agreement [PDF] [Word doc]
For the relevant user guides and commentaries, each as prepared, agreed and approved jointly by AWG and IATA, please follow the links below:
Short-term emergency engine lease
AWG and IATA produced a form master short-term engine lease agreement (Short-Term Emergency Engine Lease, or, in short, STEEL). The STEEL was updated in 2012, mainly to reflect the entry into force of the Cape Town Convention (CTC). IATA has designated the revised STEEL as IATA document no. 5016-01. A user guide and commentary is also available for use in connection with the STEEL.