WINGFORM is an aircraft transaction management platform that serves as your digital assistant in the planning and execution of aircraft sales efficiently and securely. It encompasses all you may need in one place- from compliance verification to closing.
This article describes how transactions are created on Wingform. After you have finished setting up your working environment, you can create your first deal.
Creating a Transaction
Creating a transaction involves:
Selecting the deal's parties from previously added client accounts.
Choosing an escrow provider from the Platform's options or adding a new one.
Choosing a deal flow configuration from built-in options, each determining the transaction's sequence and forecasted timelines.
Entering Terms and Conditions of the deal, such as price details, delivery location, governing law, and inspection details, if available. These can be modified during the transaction as needed.
Modifying the automatically forecasted timelines of the deal's steps to reflect existing agreements or circumstances
Selecting templates for legal documents from those offered by the Platform or uploaded by the broker.
Read detailed instructions on how deals are created.
Once these steps are completed, the broker will have all the necessary preparations in place to start the transaction.
Inviting Other Transaction Parties
If you want to collaborate with other deal stakeholders - other brokers, owners and buyer, legal teams, financiers, etc - during the transaction or just share transaction status and details, after creating a deal you can invite them to the deal.
You can set View or Manage permissions to grant the necessary level of access to deal actions.
Read here how collaboration feature works on Wingform.
Performing the Transaction
Managing transactions on the Platform involves following the deal flow step-by-step, with guidance provided at each stage according to the chosen flow and timelines. Actions include arranging the signing of automatically drafted documents, confirming fund transfers, uploading third-party documents, and entering decisions made by the parties. Brokers are notified of deadlines and the outcomes of client and third-party actions.
A detailed explanation of how deals are executed can be found here.
Controlling Multiple Transactions
Brokers can manage multiple transactions simultaneously. The 'Deals' section provides an overview of all transactions and access to individual dashboards. Transactions are automatically available to executives or team members with admin rights, while other members can view only those transactions they have permissions for.
