Explanation of Interest Payments to BD-5
- Only those customers under Priority #2501, who were given a firm
delivery date, are elegible to receive interest on their balance of
- Interest, at the rate of 10% per annum, will be computed as outlined
- Interest Starts on the firm delivery date, if balance of payment
was submitted at least 90 days prior to delivery date, as
specified in the letter.
- For those customers who remitted after the specified date,
interest starts 90 days after receipt of balance of payment.
- A value will be placed on each of the five major packages, and
interest will be pro-rated based upon the days of availability
of each of these packages.
- Interest will be figured on balance of payment only, not on the $200
- Since this payment of interest was initiated as a self-imposed
penalty by Bede Aircraft, Inc. to the original purchaser, no interest
will be paid on a purchase order which has been sold to another
- The interest payment as outlined above is not to be confused with the
6% interest payments for the BD-5 installment payment agreement
(which is explained in detail on the face of that form).
Last Update: 5/17/97
Web Author: Juan Jiménez
Copyright © 1997 by Juan Jiménez - ALL RIGHTS RESERVED