Send us an e-mail to receive an official deposit form with your position number and instructions. Cash and escrow deposits being accepted, see the text below for a sample of the terms on the agreement.
This Wolff AeroCycle Deposit Agreement (“Agreement”) is made and entered into on the date listed below, between Wolff AeroCycle and the undersigned (“Buyer”). Buyer wishes to secure a production position for Wolff AeroCycle aircraft, Light Sport Model and to purchase the aircraft from Wolff AeroCycle when available. In order to secure aforementioned production position, Buyer hereby tenders to Wolff AeroCycle a deposit in the amount of $500. (Buyer may choose to make an escrow deposit in the amount of $1,000 to be held by Wolff AeroCycle in a separate bank account to be designated by Wolff AeroCycle as the “Escrow Deposit Account.”)
At any time following the date of this Agreement, but prior to the expiration of thirty (30) days following first flight of the aircraft (Wolff AeroCycle will notify deposit holders of the first flight), or execution of a final Purchase Contract by Buyer, whichever first occurs, Buyer may request and receive a full refund of the $500 deposit ($1,000 if in escrow), without interest. If Buyer chooses not to execute a final Purchase Contract prior to the expiration of thirty (30) days following first flight of the aircraft, any funds held for which a refund is not requested by Buyer within such specified time shall become the sole property of Wolff AeroCycle.
At anytime following the date of this Agreement, Buyer may sign a final Purchase Contract and apply this placeholder deposit toward the full deposit price of the aircraft. Full deposits will be 10 percent of the total purchase price or 20 percent if escrow deposit is desired. Final price is estimated at _____ (excluding engine and motorcycle), and will be set at time of first flight. The balance of the full deposit will be required when Wolff AeroCycle can promise kit delivery within 6 months. Should final kit price exceed estimate by more than 15 percent, buyer may request, and will be granted, a full refund of any deposit monies.