Pre-funding or Pre-Finance Inspections

The purpose of this inspection is to provide the lending institution with a detailed inventory listing of the aircraft and its records. It is also important to verify the avionics installed and any optional equipment or modifications to the aircraft that might affect the value of the proposed collateral.

 

Physical verification of the aircraft

Airframe Make and model and serial number verification

Engine make and model and serial number verification

APU make and model and serial number verification

Propeller engine make and model and serial number verification

General overall appearance check

Inspection for any apparent damage or repairs

Inspection for any apparent modifications

Records review

Identify and record all available maintenance records (i.e. are there any missing log books?)

Determine if the aircraft has any documented damage history

Identify how much time is remaining before major maintenance is due such as engine overhauls

A comparison between the equipment list and the equipment that is actually installed in the aircraft

 All of these items can greatly impact on the value of an aircraft. This information is also very important to have, in the unfortunate event of a default.

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