APEX Standard Exchange Agreemenet

The APEX Standard Exchange Agreement was updated on December 01, 2024

1. General Agreement
This agreement between Aviation Parts Executive, Inc. (“APE”) and the buyer establishes the terms governing all exchange transactions conducted between the buyer and APE. Unless otherwise stated in a specific written agreement, this document serves as the primary, ongoing agreement for all future exchanges. The terms will remain in effect unless modified or replaced by a subsequent agreement issued by APE.

If any changes or amendments are made to this agreement or APE’s exchange policies, written notice will be provided to the customer. By completing an exchange transaction via APE’s website, email, or other sales channels, the buyer consents to these terms, which supersede any previous agreements between the customer and APE.

2. Billing & Payment Terms
1. Exchange Pricing:
• The buyer will be charged an exchange price as quoted by APE for each transaction. This exchange price is based on a flat-rate pricing model, unless an adjustment is required due to the condition of the core being returned.
2. Core Charges:
• During the exchange process, the buyer will also be billed a core charge. This fee represents the value assigned to the core being returned.
• The core charge is refundable, provided that the core is returned within 30 days and meets APE’s Core Conditions (outlined below). If the returned core fails to meet these conditions, the core charge will not be refunded.
3. Additional Charges:
• If the core is found to be Beyond Economical Repair (BER) or does not meet APE’s Core Conditions, additional fees may apply, and the core charge will not be refunded.
• A core may be classified as BER if the cost to repair the unit exceeds 75% of the flat-rate price.
4. Payment Policy:
• Payments are subject to APE’s internal credit review policies. If payment is not received within the agreed-upon terms, APE reserves the right to impose late fees, suspend exchange privileges, or initiate collection actions as necessary.

3. Core Return Policy
To receive a core refund, the buyer must adhere to the following conditions regarding core return and acceptance.
1. What Constitutes a Repairable Core:
• A repairable core is a part that is in its original condition as removed from an aircraft, with no signs of excessive wear, and no exposure to incidents like fire, water, or crash-related damage.
• The core must be in a repairable state. If the cost of repairs exceeds 75% of the flat-rate charge, the unit may be deemed Beyond Economical Repair (BER), and the core charge will not be refunded.
2. Cores That Will Not Be Accepted:
• Cores that have been extensively modified, tampered with, or reworked.
• Cores with illegible, missing, or modified data plates.
• Cores that arrive in a disassembled condition.
• Cores that are incident-damaged (fire, flood, or accident-related damage).
3. Return Deadlines & Procedures:
• All cores must be returned to APE or its designated resellers within 60 days of the original exchange transaction.
• To initiate the return process, the customer must submit a return form via APE’s order page, where a return packing list and shipping label will be generated.
• If the core is not returned within 60 days, APE reserves the right to deny the return, impose additional fees, or reject the core altogether. If no core is returned within 90 days, it will be assumed that no core will be provided, and no refund will be issued.
4. Late Core Returns (After 60 Days):
• If a customer wishes to return a core beyond the 60-day window, the return is subject to APE’s approval. If the return is accepted, a partial refund or additional fees may apply.
• If the core is not returned after 90 days, it will be deemed as forfeited, and no core refund will be issued.

4. Exchange Agreement – Electronic Signature
By engaging in an exchange transaction with Aviation Parts Executive, Inc., the buyer agrees to and accepts the terms outlined in this agreement. This acceptance may be signified in one or more of the following ways:
• Completing an online transaction via the APE website,
• Email confirmation of an order, or
• Initiating an exchange via phone or other sales channels.

The buyer acknowledges that their electronic signature, or any action taken to confirm the acceptance of this agreement, has the same legal effect as a written signature. By moving forward with the exchange transaction, the buyer accepts these terms and agrees to be bound by them.

5. Modifications & Updates
• APE reserves the right to modify or update this agreement at any time. If a change occurs, written notice will be provided to the customer via email or other means of communication.
• Any special terms, custom agreements, or one-off arrangements must be documented in writing and signed by an authorized representative of APE.

By conducting an exchange transaction with Aviation Parts Executive, Inc., the customer confirms they have read, understood, and accepted the terms of this Standard Exchange Agreement.