The Records Review Report

The aircraft records, when well organized, tell a story about where the airplane has been, what challenges it has seen, and how the aircraft has been maintained. All of these factors will have an impact on the valuation and liquidity of the aircraft. Understanding all of that information is essential in crafting a clear, succinct, and articulate summary of a records review assignment. This is a task that may seem daunting or overwhelming to some. Let me offer a few tips to try and make it seem more achievable.

1. Report Template: In some cases, the first challenge after a records review is where to start with the report. One of the best practices that can be employed to mitigate this challenge is using a standard report template. Templates can serve as a guide to keep the reviewer on track and makes sure all the basics are covered. It will also provide a logical flow for the information to be organized into. For the sake of clarity, using a standard template does not mean that all records review assignments are the same.  
2. Intended Use: Knowing the intended use of the report is a critical element in structuring an effective report. For example, if the intended use is to inform whether or not to purchase an aircraft, it would be advisable to include a section of prebuy considerations. Regardless of how evasive the aircraft salesperson, attorney, or other contracting party, it is important to really dig into the specific purpose for the assignment.
3. Intended Users: While on the subject of determining intended use of your report, it is important to define who can have a copy of your report. In other words, who are the intended users. List them in your report by name noting the report is confidential for only those individuals or organizations. If you are working for an attorney, it is likely they will have specific phraseology to follow to ensure the document remains privileged and confidential. 
4. Disclaimers: Disclaimers are important. The function of disclaimers in these types of reports is to be assumption busters. A couple areas to consider disclaiming might be whether or not your report is intended to substantiate the aircraft’s airworthiness, or whether or not the author of the report exercised any privileges of any Airman’s certificate as allowed under FAR Part 65. There are others but you should define what is important for you, the client, and your particular assignment.
5. Report the Facts: If you see something say something! This phrase is repurposed here in the context of the records review. Your assignment might seem simple, but it if you notice for example an MRO provided a logbook entry for maintenance and inadvertently listed the wrong registration number or the “...in accordance with...” statement refers to another type of aircraft you have an obligation to include this in your report and to notify the current operator. Similarly, if you notice an overdue inspection or miscalculation on a life limited component there is a moral and ethical obligation to inform.
6. Scans: If you point out an anomaly in the records or discover an event that you are highlighting in your report, it would be advisable to include a scan copy of that particular portion of the record as an appendix to your report. It will just save everyone time in validating your observations.
7. Sign It: Seems simple but it is often overlooked. Depending on the circumstances and use case signing the report might be critical. 
8. Proofread: Nothing is more embarrassing than a client calling you because you have a serial number of an engine wrong. It has happened.

Employing these practices will help you deliver an effective report that meets or exceeds your client’s needs. It can be challenging to try and boil down all the data from the records review into a succinct summary for the specific circumstances of whatever deal is pending. Following the suggestions offered in the first two articles you will find the report essentially will write itself as you go through the process. 

I know many of you conduct records reviews on a regular basis for a variety of purposes from certified appraisals to lease returns to prebuy events and many others. Please share with us in the comments some your thoughts and strategies. We only get better as an industry when we share best practices.