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XO CL300-Define firm order

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X-Wind

Well-known member
Joined
Jul 6, 2004
Posts
82
Can someone educate me regarding firm order, and option order?
I have a general idea, however I'm not 100% sure..
 
That cracked me up!!!!Good one!

Tell me this, Is there earnest money involved in a firm order?

Not 100% sure, but I would imagine so. I don't think the manufacturers would start production unless they had some sort of a comittment besides a signed contract.
 
Not 100% sure, but I would imagine so. I don't think the manufacturers would start production unless they had some sort of a comittment besides a signed contract.
I would have to agree with you..But , I have never bought a 20M airplane...?


I'm some what surprised there have been No XO members posts on this thread??????
 
I would have to agree with you..But , I have never bought a 20M airplane...?


I'm some what surprised there have been No XO members posts on this thread??????


Don't know the answer, just checking in for XO.

I havn't heard the term "firm order" used to describe anything other than a serial # with an XO tail # attached to it.

Sorry I can't be more helpful.
 
To the best of my knowledge, a firm order means that a contract to purchase has been signed, and a deposit has been paid. An option to buy is reservation of a delivery position, but no contractual obligation. I would venture to guess that some good-faith funds are still required for the option, but significantly less than that required for a firm order.

But then again, I'm just a pilot, so what do I know!
 

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