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PGILLIES(at)gwm.sc.edu
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 Posted: Tue Jan 16, 2007 6:12 am Post subject: Partnership contract for building process |
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Hi,
I am getting into a partnership to build a RV-10. Does anyone out there have an agreement for the building process. I am looking for ideas on how to deal with:
- what if some one wants out of the agreement before the airplane is complete
- charging an hourly rate for work ( so every one is somewhat equal on man hours and cash)
- Who pays for ruin parts?
- In case of a death or serious injury, before the airplane is complete
- Any other issues I have not thought about
Thanks,
Patty Hamilton
Columbia, SC
RV-6 N996PJ
[quote][b]
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pitts_pilot(at)bellsouth.
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| Posted: Tue Jan 16, 2007 8:54 am Post subject: Partnership contract for building process |
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AOPA has generic partnership forms. A partnership agreement for a flying plane should work for a builder partnership with some additions. Read on for some suggestions.
Patty Hamilton wrote:
| Quote: | Hi,
I am getting into a partnership to build a RV-10. Does anyone out there have an agreement for the building process. I am looking for ideas on how to deal with:
- what if some one wants out of the agreement before the airplane is complete
|
Then one partner buys out the other for 1/2 the COST of materials. Who buys out who may be an agreement beforehand, or decided by a flip of the coin ....
| Quote: | - charging an hourly rate for work ( so every one is somewhat equal on man hours and cash)
|
You can't quantify hourly rate due to levels of expertise and the fact that one of the partners won't have the luxury of having the kit close to home.
Equal shares. You are supposed to be doing the work together so a screw-up is shared by both parties.
| Quote: | - In case of a death or serious injury, before the airplane is complete
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See the first answer.
| Quote: | - Any other issues I have not thought about
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Yes ..... who gets the repairmans certificate. Should be the most mechanically inclined ...... or maybe the one most likely to survive the other.
FYI, my Pitts started out as a project with three people ...... and over the span of construction I bought out the other two participants at a discount because they wanted to go on to other projects. We didn't have a written agreement ...... just a handshake ...... and thank goodness we didn't need one. It could have been messy.
Linn
do not archive
[quote] Thanks,
Patty Hamilton
Columbia, SC
RV-6 N996PJ
[b]
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jpl(at)showpage.org
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| Posted: Tue Jan 16, 2007 10:54 am Post subject: Partnership contract for building process |
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I've thought about this one... If one of the partners wants out of the relationship, then the other person should have some control over the process. Not a flip of the coin.
Let's say that my friend Bill and I decide to build a plane together. We'd share all the costs, etc, and keep track of what we spend. But let's say I take a great job in Alaska. Bill would then have the choice of letting me buy out the plane or buying my half from me. But it should be his choice, because I'm the problem in the relationship -- I'm the one who is leaving.
You could also have an "auction" between the two of you. The one willing to pay the most for the buyout keeps the airplane.
But I wouldn't flip a coin.
-J
do not archive
On Jan 16, 2007, at 10:56 AM, linn Walters wrote:
[quote] AOPA has generic partnership forms. A partnership agreement for a flying plane should work for a builder partnership with some additions. Read on for some suggestions.
Patty Hamilton wrote:
| Quote: | Hi,
I am getting into a partnership to build a RV-10. Does anyone out there have an agreement for the building process. I am looking for ideas on how to deal with:
- what if some one wants out of the agreement before the airplane is complete
|
Then one partner buys out the other for 1/2 the COST of materials. Who buys out who may be an agreement beforehand, or decided by a flip of the coin .....
| Quote: | - charging an hourly rate for work ( so every one is somewhat equal on man hours and cash)
|
You can't quantify hourly rate due to levels of expertise and the fact that one of the partners won't have the luxury of having the kit close to home.
Equal shares. You are supposed to be doing the work together so a screw-up is shared by both parties.
| Quote: | - In case of a death or serious injury, before the airplane is complete
|
See the first answer.
| Quote: | - Any other issues I have not thought about
|
Yes ..... who gets the repairmans certificate. Should be the most mechanically inclined ...... or maybe the one most likely to survive the other.
FYI, my Pitts started out as a project with three people ...... and over the span of construction I bought out the other two participants at a discount because they wanted to go on to other projects. We didn't have a written agreement ...... just a handshake ...... and thank goodness we didn't need one. It could have been messy.
Linn
do not archive
| Quote: | Thanks,
Patty Hamilton
Columbia, SC
RV-6 N996PJ
href="http://www.matronics.com/Navigator?RV-List">http://www.matronics.com/Navigator?RV-List
href="http://forums.matronics.com">http://forums.matronics.com
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[b]
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Greg.Puckett(at)united.co
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| Posted: Tue Jan 16, 2007 1:45 pm Post subject: Partnership contract for building process |
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Patty,
Another thing you may want to consider is that, as I understand it, only one person’s name can go on the Airworthiness Certificate as the ‘Builder’.
I’m not a Lawyer but, I would not be surprised that if the airplane were ever sold to a third party, that person (the ‘builder’) may have his/her neck stuck a bit further out. I have no idea how you would account for this but, it’s probably something to think about.
Greg Puckett
RV-8
N881GP
| Quote: | | >> Hi,>> >> I am getting into a partnership to build a RV-10. Does anyone out >> there have an agreement for the building process. I am looking >> for ideas on how to deal with:>> >> what if some one wants out of the agreement before the airplane >> is complete> Then one partner buys out the other for 1/2 the COST of materials. > Who buys out who may be an agreement beforehand, or decided by a >> |
0123456789 | Quote: | | >> I am getting into a partnership to build a RV-10. Does anyone out |
0 | Quote: | | >> I am getting into a partnership to build a RV-10. Does anyone out |
1 | Quote: | | >> I am getting into a partnership to build a RV-10. Does anyone out |
2 | Quote: | | >> I am getting into a partnership to build a RV-10. Does anyone out |
3 | Quote: | | >> I am getting into a partnership to build a RV-10. Does anyone out |
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[quote][b]
| | - The Matronics RV-List Email Forum - | | | Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:
http://www.matronics.com/Navigator?RV-List |
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mrobert569(at)hotmail.com
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| Posted: Tue Jan 16, 2007 3:06 pm Post subject: Partnership contract for building process |
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Close but not exact. The builder may place any name on the plane as a manufacturer as long it is not the kit manufacturers name. For example if Mike Jones and John Smith built the plane together they could call it the Smith Jones RV-8A. They could even call it a Mike John RV-8A if they so desired. I know of an RV-6A that uses all three last names of the partners that built that one. The key is that the name can't be the same as the kit manufacturers, I.E. Van's. But that is not to say that the Kit Manufacturers name (Van's) can't appear in the Model name, for example, Smith Jones, Van's RV-8A.
Mike Robertson
Das Fed
| Quote: | Subject: Re: Partnership contract for building process
Date: Tue, 16 Jan 2007 14:43:06 -0700
From: Greg.Puckett(at)united.com
To: rv-list(at)matronics.com
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Patty,
Another thing you may want to consider is that, as I understand it, only one person’s name can go on the Airworthiness Certificate as the ‘Builder’.
I’m not a Lawyer but, I would not be surprised that if the airplane were ever sold to a third party, that person (the ‘builder’) may have his/her neck stuck a bit further out. I have no idea how you would account for this but, it’s probably something to think about.
Greg Puckett
RV-8
N881GP
| Quote: | | >> Hi,>> >> I am getting into a partnership to build a RV-10. Does anyone out >> there have an agreement for the building process. I am looking >> for ideas on how to deal with:>> >> what if some one wants out of the agreement before the airplane >> is complete> Then one partner buys out the other for 1/2 the COST of materials. > Who buys out who may be an agreement beforehand, or decided by a >> |
0123456789 | Quote: | | >> I am getting into a partnership to build a RV-10. Does anyone out |
0 | Quote: | | >> I am getting into a partnership to build a RV-10. Does anyone out |
1 | Quote: | | >> I am getting into a partnership to build a RV-10. Does anyone out |
2 | Quote: | | >> I am getting into a partnership to build a RV-10. Does anyone out |
3 | Quote: | | >> I am getting into a partnership to build a RV-10. Does anyone out |
4
| Quote: | | >> I am getting into a partnership to build a RV-10. Does anyone out |
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| | - The Matronics RV-List Email Forum - | | | Use the List Feature Navigator to browse the many List utilities available such as the Email Subscriptions page, Archive Search & Download, 7-Day Browse, Chat, FAQ, Photoshare, and much more:
http://www.matronics.com/Navigator?RV-List |
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