There is no “one rule fit’s all” for OCCM lease return consideration; this is an area where you need to consult you lease agreement and it can get quite complex and become a topic for conversation.
You might see a lease condition similar to “All Parts other than Hard Time & Life Limited Parts installed on the Aircraft in the previous thirty-six (36) months will have EASA documentation or FAA documentation acceptable under EASA.”
Additional conditions could include ““On-Condition” or “Condition Monitored” Parts shall be Serviceable and shall be supported by appropriate certification documents such as FAA Form 8130-3 or EASA Form 1 at the point of last installation on the Aircraft if replaced since the Aircraft was delivered new from the Manufacturer.“
The lease conditions are not the same as the airworthiness conditions – lease conditions are to protect asset value, part of which is ensuring compliance for an ongoing lease and so typically lease conditions can be more restrictive that regulatory requirements.
As OCCM parts are not required to be tracked directly by Flight Cycles and Flight Hours queries can also arise regarding condition of parts installed – for example a lease may require condition to be within 120% of the aircraft.
The point of installation & date of manufacture are important points to note; along with ensuring the part is compliant to any AD/SB requirements.
Stay up-to-date with all our aviation news and information:
- Click Here to sign up to the IALTA newsletter.
- Follow us on LinkedIn:
- Learn more at www.ialta.aero/courses
#aircraftmanagement #aircraftleasing #onlinelearning #aircraftsales #aircraftengineer #ialta #aircraftparts