The Deal Flow Controller (DFC) is a comprehensive suite of tools and procedures designed to assist aircraft brokers and dealers in managing and executing their transactions. To set up a working environment and fully benefit from the DFC's functionality, the following steps are necessary:
Setting up a Broker Workspace
Broker workspaces are dedicated environments for planning and managing in-person transactions organized and executed by brokers and dealers. These can be created in the 'Workspaces' section on the Platform.
After creating a workspace, brokers should provide as many details as required. Compliance checks are not required for brokers since they are not parties in the transactions.
Broker workspaces feature unique tools including sections for Clients, Escrow Providers, and My Templates. Additionally, a Broker workspace allows the invitation of the broker’s team to manage separate transactions if necessary.
Read about Workspaces & Team management here.
Creating Client Accounts
Client accounts are essential for gathering buyers' and sellers' details to draft legal and transactional documents and structure financial operations, especially if the Platform's escrow and closing providers are used. Brokers are responsible for accurately entering client details.
Brokers can perform quick checks on their clients for sanctions and anti-money laundering lists directly from their accounts. They can also invite clients to undergo full-scale KYC/KYB checks. Once completed, the client's details in the account will be automatically updated with the verified data.
Creating Escrow Provider Accounts
If you choose to use your escrow provider instead of the ones offered on the platform, you need to create escrow provider account in the 'My Escrow' section in the 'Dashboard' and input its details to be used in the legal documents throughout your transactions. Read about how you can use escrow services here.
Creating Inventory
The system retrieves details of the aircraft from listings created by brokers in the Inventory section. For majority of jets and turboprops, there is an opportunity to enjoy automated filling of aicraft data by just entering aircraft model and serial number. Certain fields in the listing are mandatory. Price considerations can be entered at this stage or later during the transaction flow creation.
Managing Legal Document Templates
The Platform provides brokers with legal document templates curated by top-tier aviation lawyers. However, brokers are responsible for reviewing these templates before use.
Brokers can also upload their templates in the 'My Templates' section. These will be moderated by the Wingform team to include necessary coded fields, enabling automatic drafting of documents based on aircraft and client details, as well as transaction terms entered by the broker. You can read about templates management here.
Please note that Wingform does not provide legal advice on document content nor assumes responsibility for their use in deals.
Performing Transactions
As soon as you set up your working environment, you can start your transactions on Wingform- securily and efficiently.
Performing a transaction by a broker in the Deal Flow Controller implies managing all its details, documents, and actions on the platform while cooperating with transaction parties and service providers in person.
Read this article about planning and executing aircraft sales transaction.
Watch this video to see an overview of the Deal Flow Controller.