How closings work
The secondary market's weakness has never been inventory; it is counterparty trust. Halyard's structure answers it directly: we transact as principal, and funds move through attorney escrow against verified milestones. There are no advance wires to sellers.
NDA & non-circumvention
A mutual NDA/NCND protects both sides. Package-level documentation and diligence detail release under it, with sensitive items passing counsel-to-counsel.
LOI & proof of funds
A short-form LOI with bank-verified proof of funds — or escrow pre-positioning in lieu — establishes the buyer, the units in scope, and the window.
Unit identification package
Serial numbers, nameplate photography, service and overhaul history, and the title and lien position, released against the executed LOI, proof of funds, and a refundable deposit.
Attorney escrow
All funds are held in a New York law firm's escrow account under written escrow instructions and released only against defined, verified milestones.
Inspection & title verification
In-person unit and serial verification, UCC and lien searches, provenance review, and possessory-lien waivers before funds move. The deposit remains refundable if inspection reveals material misrepresentation.
Closing & delivery
Settlement is simultaneous: title with warranty passes to the buyer, and every party in the transaction is paid at once.