The foundation of the proposed agreement provides for Flight Avionics to furnish the VRT Exhibit, operations and maintenance to your institution turnkey. In addition, Flight Avionics advances 100% of the installation and set up costs. Therefore, the institution incurs no investment cost for the VRT Exhibit. Typically Flight Avionics operates the VRT Exhibit for the institution on a joint net profit basis. We have been providing VRT Exhibits to major institutions in the U.S. under these same agreement terms for over 10 years with very positive results.
The proposed agreement is easy to administer and audit. It provides full disclosure of the economics of the operation, and creates a long-term agreement that does not require modification if economic realities change from our original estimates. This agreement has proven to provide a solid framework for long-term excellent relations between the parties and an equitable distribution of the revenues throughout a wide range of financial realities.