IATA Aircraft Lease Guidance

Redelivery
representatives fails to attend the maximum power assurance run, then Lessee will perform the
maximum power assurance run in the absence of Lessor or its representatives. Lessee will
make an entry in the maintenance log book for the maximum power assurance runs and a copy
of the engine run sheets and recorded parameters and aircraft generated reports will be
furnished to Lessor.
2.11 Borescope Inspection
a) If required by the Lease, after the Engine power assurance runs and a successful Redelivery
Check Flight as detailed above, Lessee will procure a video borescope inspection on each
Engine and the APU performed by the Approved Maintenance Facility.
b) Lessee will give the Lessor at least (X) calendar days’ notice of the date on which the
borescope inspections are scheduled to be performed, and Lessor or its representatives may
attend the borescope inspections. For the avoidance of doubt, if Lessor or its representatives
fails to attend the borescope inspections, then Lessee will perform the borescope inspections
in the absence of Lessor or its representatives and will still be required to correct any
discrepancies identified during the performance of the borescope inspections. Lessee will
provide a copy of the videotape borescope and inspection reports for the Engines and the APU
to Lessor.
c) Subject to Paragraph 2.12(a) below, Lessee will procure that all discrepancies (save for
Acceptable Discrepancies) discovered during the borescope inspections are rectified and
provide Lessor with documentary evidence to demonstrate compliance with the Redelivery
Conditions.
2.12 Managing and Closing Discrepancies
Lessee will review each Notified Discrepancy.
a) Disputed Discrepancies
Where Lessee finds, in its reasonable opinion, that a Notified Discrepancy is not a discrepancy
against the Redelivery Conditions, Lessee will so notify Lessor. If Lessor does not agree, Lessee
will consult with the relevant manufacturer of the item giving rise to such Notified Discrepancy to
obtain such manufacturer's determination as to whether such Notified Discrepancy is a
discrepancy from the Redelivery Conditions and manufacturer’s determination will be binding on
Lessor and Lessee, save for such Discrepancies which deal solely with a cosmetic condition
wherein the respective Project Managers shall come to a mutual agreement on the basis that the
Aircraft interior shall be permitted to exhibit fair wear and tear consistent with the age of the
Aircraft and where such mutual agreement may involve in respect of such Discrepancy:
(i) corrective action by Lessee;
(ii) no further action by Lessee and;
(iii) minimum corrective action and compensation from Lessee to Lessor.
b) Agreed Discrepancies
Subject to Paragraph 2.12(a) above, Lessee will rectify all Notified Discrepancies save for
Acceptable Discrepancies. Lessee will notify Lessor when it has rectified a Notified Discrepancy
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