PPRuNe Forums - View Single Post - Aero's Gloucestershire - brink of going bust?
Old 10th Sep 2008, 10:23
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Pace
 
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>PACE - You missed the point of IO's question. If the money is put in escrow it cant be taken by the company or liquidators.<

Bose I may have the wrong understanding not being a lawyer. I thought that placing funds in this way protected both parties ie that the flight organisation could only have funds paid to them on a drip basis as they supply goods and service to you, while as long as they were meeting their agreements with you, you cannot remove the funds and go elsewhere without just cause ie they are not supplying the goods or service as promised within reason.

If I have the wrong term then I am sure an agreement and placing the funds with an independant lawayer could cover the above.
Otherwise pay as you go as the small savings are not worth the risk in any situation.

My advice is not directed at Aeros who I have no knowlege of but advice I would give to anyone parting with money for goods or services they have not recieved in full.

So many people have been bitten in aviation in so many ways even by companies that appear on the surface to be genuine, honest and thriving.


Pace
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