The aviation industry benefits from documentary standardisation and simplification for certain types of transactions. In particular, this is the case where the benefits of standardisation and simplification, including decreased negotiating time, reduced transaction expenses and increased efficiencies, are material. The forms of existing documents, the processes by which they are negotiated and the nature of the particular transaction are also relevant factors in any decision to standardise.
AWG and IATA have now produced several standardised and template documents for use in English law governed and New York law governed aviation transactions. Any transaction parties, whether or not members of IATA or AWG, may utilise these standardised documents. Each standardised document is designated as a template document and is intended to be used as a framework for efficient negotiations. Transaction parties may modify or deviate from the terms of the standardised documents as they deem fit.
User Guides and Commentaries have been prepared for use in connection with such documents. The purpose of each User Guide is to provide technical assistance to transaction parties by providing practical guidance on the terms of the relevant standardised document.
All work on documentary standardisation is undertaken in accordance with strict compliance guidelines produced by leading international counsel.