Trust Account Bank Information

Tuition & Fees Collection/Deposit into Trust Account with Third-party Administrator Oversight & Related Draws-on Trust Account

Trust Account Bank Information:

All tuition and fees collected by Absolute Aviation will be deposited into a trust account at Scotia Bank located at

#107, 3725-56 Street, Wetaskiwin, Alberta, T9A 2V6 (Transit #01479-002) Branch phone: 780-352-9261

a.) Tuition and Instructional Equipment (Aircraft & Flight Simulator)

Tuition at Absolute Aviation is comprised of the following four (4) portions of the course that sees Instructor oversight &/or instruction:

-Ground school-Pre-flight briefings-Flight (Dual & Solo)-Post-flight briefings

For these four (4) areas, it is the intent that Absolute Aviation will via the third-party administrator withdraw funds from trust account in the following manner:

10% of tuition related to Instructor training and the employment of Instructional Equipment (Aircraft & Simulator) to be drawn up front with subsequent, weekly draws related to these items be made on the trust account based on the student having received the full benefit relating to the Instructional training via oversight &/or instruction coupled with employment of the Instructional equipment (Aircraft & Simulator) that is tracked on an hourly basis.

b.) Fees:

Weekly draw-downs undertaken on the trust account for fees based on the student having signed-off on:

- being issued / received items such as the: Ground school training kit, Head-set, & Apple I-pad

- undergone Medical exam, Exam test, & licensing test

Example: Private Pilot License (PPL) with Instrument Flight Rules (IFR) training:

Description & Hours / Hourly rate “or” Fee / Total / Weekly Draw upon trust account
85 hours of Dual Flight time [ including a minimum of 3 hours cross-country flying and 5 hours instrument based flying time] **see IFR note below** / $210.00/hr. / $17,850.00 / Weekly draw based on hours completed at $210.00/hr.
75 hours of Solo Flight time **see IFR note below** / $175.00/hr. / $13,125.00 / Weekly draw based on hours completed at $175.00/hr.
20 hours Pre-flight & Post-flight briefing / $60.00/hr. / $1,200.00 / Weekly draw based on hours completed at $120.00/hr.
80 hours Ground School course / $60.00/hr. / $2400.00 / Weekly draw based on hours completed at $60.00/hr.
40 hours Simulator training / $200.00/hr. / $8,000.00 / Weekly draw based on hours completed at $200.00/hr.
Ground school training kit / Books and supplies / Fee / $400.00 / Weekly draw-down after issuance
Medical / Fee / $150.00 / Weekly draw-down after completion
Transport Canada Exam test fee / Fee / $105.00 / Weekly draw-down after completion
Transport Canada Completion Flight test fee / Fee / $350.00 / Weekly drawdown after completion
Licensing fees / Fee / $300.00 / Weekly drawdown after completion
Head-set / Fee / $1,100.00 / Weekly draw-down after issuance
Apple I-pad (to be employed to access Fore-flight, etc.) / Fee / $900.00 / Weekly draw-down after issuance
Pre-Admission English Proficiency test / Fee / $150.00 / Weekly draw-down after completion
Sub-total / 45,880.00
Goods and Services Tax / $2,294.00 / Weekly drawn based on calculated portion
Total: PPL Flight School training with Single-engine IFR training / $48,174.00

Note: In an instance where a student may require additional hours of training above the standard course component hours, the student will be required to top-up the trust account to a minimum of $1,000.00, prior to any additional training being provided at the rates listed.

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Tuition Payment into trust account weekly draws on Trust-May 19, 2019