ASCI 404 6.2
Purchasing an aircraft can be a daunting task. There are precautions necessary for the buyer to take before purchasing. The Federal Aviation Administration (FAA) has records on all aircraft and their owners. Buyers, therefore, can determine the ownership of the plane through a search of aircraft from FAA’s registry (FAA, 2013). Further, before purchase, it is important to determine the security interests in the aircraft. A potential buyer can look up the securities within the aircraft records, which cover ownership and security documents filed with the FAA. Moreover, records for all aircrafts at the Civil Aviation Registry encompass all security instruments of the aircraft. Finally, it is important to determine the condition of the plane. It is possible to determine the condition of the plane through pre-purchase inspection by a trusted mechanic, including flying the aircraft before making the purchase.
In the aviation industry, nations have identification markers for their aircraft issued by government authorities. In Canada under Transport Canada is the Civil Aviation, which registers aircraft and provides markings. The identification marking provided by Civil Aviation in Canada starts with the letter “C”and followed by other letters, which act as registration marks (Transport Canada, 2015). C is the national identifier of Canadian planes. Additionally, the Civil Aviation requires registration for unmanned aircraft. Registration for an unmanned aircraft by their owner follows safety concerns that come with the operation of the crafts (Department of Transport, 2017). For this reason, the Canadian Aeronautics Act sponsored by the Department of Transport, which oversees Civil Aviation has regulation concerning the operation of the unmanned airplanes. The regulations categorize the aircraft according to size and purpose and require different regulatory thresholds for each of the categories.
Department of Transport (2017). Regulations Amending the Canadian Aviation Regulations (Unmanned Aircraft Systems). Canada Gazette, 151(28). Retrieved from http://www.gazette.gc.ca/rp-pr/p1/2017/2017-07-15/html/reg2-eng.php.
FAA (2013). Aircraft Certification: Record a Security Agreement/Chattel Mortgage. FAA. Retrieved from https://www.faa.gov/licenses_certificates/aircraft_certification/aircraft_registry/record_security_agreement/.
Transport Canada (2015). Aircraft Identification. Transport Canada. Retrieved from https://www.tc.gc.ca/eng/civilaviation/publications/tp11957-chapter4-ident-92.htm