Effective Date: February 23, 2026
These Core Exchange Terms and Conditions (“Core Exchange Terms”) govern all core exchange transactions with BAS Part Sales, LLC (“BAS,” “we,” “our,” or “us”). A core exchange transaction involves the sale of an overhauled, repaired, or serviceable component (the “Core Exchange Unit”) conditioned upon the timely return of the same part number component in repairable condition (the “Core”) as further defined below.
By placing a core exchange order, accepting exchange pricing, submitting payment, or otherwise completing a core exchange transaction, the purchaser (“Customer”) agrees to be bound by these Core Exchange Terms, in addition to BAS’s general Terms and Conditions and Privacy Policy. Exchange pricing is expressly conditional upon BAS receiving an acceptable Core within the required timeframe and in compliance with the condition standards set forth herein.
If Customer does not agree to these Core Exchange Terms, Customer must not proceed with the exchange transaction.
In the event of any conflict between BAS’s general Terms and Conditions and these Core Exchange Terms, these Core Exchange Terms control solely with respect to the core exchange transaction.
1. Core Exchange Transaction Defined
Core Exchange Transaction Defined
A core exchange transaction is the sale of an overhauled, repaired, or serviceable component ('Core Exchange Unit') by BAS Part Sales, LLC ('BAS') in exchange for the return of the same part number component in repairable condition ('Core') from the purchaser (‘Customer’). The pricing of a core exchange transaction is conditioned upon BAS receiving an acceptable Core within the timeframe and conditions defined in this Agreement.
2. Exchange Price and Core Value
Exchange Price and Core Value
Each core exchange transaction includes an Exchange Price and a Core Value assigned to the return Core. The Core Value represents the amount owed to BAS if an acceptable Core is not returned in accordance with this Agreement. At BAS’s discretion, the Core Value may be collected in advance in the form of a refundable Core Deposit. In other cases, BAS may extend deposit terms to approved customers. Regardless of whether the Core Value is collected in advance, Customer remains fully responsible for payment of the Core Value if no Core is returned, the Core is returned after the 30 calendar day deadline and not accepted, the Core is rejected, or the Core is deemed Beyond Economical Repair. If an acceptable Core is received and approved, any previously collected Core Deposit will be refunded.
3. Core Return Deadline
Core Return Deadline
Customer must ensure that the Core is received by BAS within 30 calendar days of the original transaction date unless otherwise agreed in writing. If BAS does not receive an acceptable Core within 30 days, BAS may declare the Core Value due and treat the transaction as an outright sale. BAS may refuse late Cores at its discretion.
4. Core Condition Requirements
Core Condition Requirements
To qualify as acceptable, a Core must: (1) be the same part number as the Core Exchange Unit supplied; (2) be complete and assembled unless otherwise agreed in writing; (3) retain its original, legible, and unaltered data plate; (4) not show evidence of fire, crash, immersion, or severe incident damage; (5) not be disassembled, cannibalized, heavily modified, or stripped of major components; (6) not be corroded or damaged beyond practical repair; and (7) be capable of economical repair. Repairability and acceptability are determined solely by BAS or by an overhaul facility selected by BAS.
5. Additional Charges Based on Condition
Additional Charges Based on Condition
If a returned Core requires repair beyond normal wear and tear, BAS may assess additional charges. Situations that may result in additional billing include, but are not limited to, missing components, internal damage not typical of routine removal, improper packaging resulting in transit damage, missing or altered documentation, or extraordinary labor or parts required to restore serviceability. Additional billing will not exceed the combined Exchange Price plus Core Value unless separately agreed in writing.
6. Beyond Economical Repair (BER)
Beyond Economical Repair (BER)
A Core may be deemed Beyond Economical Repair if the estimated repair cost exceeds 75 percent of the Exchange Price, if the Core is damaged beyond reasonable restoration, or if the Core fails to meet the condition requirements set forth in this Agreement. If a Core is deemed Beyond Economical Repair, Customer shall be responsible for the full Core Value. If a Core Deposit was previously collected, BAS may retain the Deposit in satisfaction of the Core Value. If no Core Deposit was collected in advance, Customer shall be invoiced for the Core Value, which shall be due and payable immediately.
7. Shipping and Risk of Loss
Shipping and Risk of Loss
Customer is responsible for all shipping, freight, insurance, customs, and related charges associated with returning the Core. Customer bears all risk of loss or damage until the Core is received by BAS. Improper packaging or insufficient protection resulting in damage may disqualify the Core from refund eligibility.
8. Core Evaluation Timeline
Core Evaluation Timeline
Core evaluation is performed after receipt. Inspection timelines vary based on part type, shop capacity, and third-party involvement. Refund of any collected Core Deposit will not be issued until inspection and acceptance are complete.
9. Transfer of Ownership
Transfer of Ownership
Customer agrees that ownership rights in the Core transfer to BAS at the time Customer accepts this Agreement and executes the exchange transaction. The exchange transaction is entered into with the understanding that the Core to be returned becomes the property of BAS, subject to inspection and acceptance under this Agreement.
10. Rejected Cores and Storage
Rejected Cores and Storage
If a returned Core is rejected, BAS may return the Core to Customer at Customer’s sole expense, or scrap or dispose of the Core upon Customer’s written authorization. All freight, insurance, and handling costs for rejected Core returns are the responsibility of Customer. Rejected Cores not retrieved within 30 calendar days of written notice may be subject to reasonable storage fees. If Customer fails to provide disposition instructions within a commercially reasonable period, BAS may dispose of the Core without further liability.
11. Late Core Acceptance and Adjusted Refund
Late Core Acceptance and Adjusted Refund
If an acceptable Core is not received within 30 calendar days, BAS may declare the Core Value due. BAS may, in its sole discretion, elect to accept a Core returned after the 30-day deadline. If BAS accepts a late Core, any refund or credit of the Core Value may be reduced as follows: received within 30 days after the deadline up to 100 percent; 31 to 60 days after the deadline up to 75 percent; 61 to 90 days after the deadline up to 50 percent; more than 90 days after the deadline credit at BAS’s discretion. Acceptance of late Cores is not guaranteed.
12. Default and Remedies
Default and Remedies
Failure to return an acceptable Core or pay applicable charges constitutes default. In the event of default, BAS may offset any credits against outstanding balances, suspend future shipments, convert exchange transactions to outright sales, and pursue all lawful collection remedies.
13. Warranty, Airworthiness Responsibility, and Limitation of Liability
Warranty, Airworthiness Responsibility, and Limitation of Liability
Core Exchange Units are subject to BAS’s standard 90-day money-back guarantee in effect at the time of sale, plus any additional guarantees offered by the overhaul facility. The installing mechanic, repair station, aircraft owner, and operator are solely responsible for determining airworthiness, regulatory compliance, compatibility, installation, inspection, continued operational suitability, and safe operation of any part purchased from BAS. BAS does not provide installation services, maintenance services, engineering approvals, or airworthiness determinations. BAS assumes no responsibility or liability for installation errors, improper maintenance, regulatory non-compliance, improper storage or handling after sale, aircraft operation, pilot judgment or decision making, subsequent modification or alteration of the part, or acts or omissions of third parties. To the fullest extent permitted by law, BAS shall not be liable for any indirect, incidental, special, consequential, punitive, or third-party damages, including but not limited to loss of use, loss of revenue, aircraft damage, personal injury, or death, arising out of or related to the purchase, installation, or use of any part sold. If liability is established, BAS’s total liability shall be strictly limited to the purchase price paid for the specific part at issue.
14. Governing Law and Venue
Governing Law and Venue
This Agreement shall be governed by and construed in accordance with the laws of the State of Colorado. Customer agrees that any dispute arising out of or related to this Agreement or any exchange transaction shall be brought exclusively in the state or district courts located in Weld County, Colorado. Customer expressly consents to personal jurisdiction and venue in Weld County, Colorado, and waives any objection to forum or venue.
15. Entire Agreement
Entire Agreement
This Agreement supersedes all prior exchange understandings unless replaced by a signed written agreement. If any provision is found unenforceable, the remaining provisions shall remain in full force and effect.
Customer Acknowledgment
Customer Acknowledgment
By placing a core exchange order with BAS Part Sales, Customer acknowledges that it has read, understands, and agrees to this Core Exchange Policy and accepts responsibility for a timely and compliant Core return.