Eclipse Offers Partial Rebate For Late Delivery

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After some customers balked recently at being asked for a "six-month" deposit -- expressing concern that delivery of their jets appears to be more than six months away -- Eclipse CEO Vern Raburn this week announced a rebate plan for late deliveries. "For customers with a scheduled delivery date on or before September 30, 2007, we will reduce your final payment due at delivery by 0.5 percent per month (a 6-percent annual interest rate) of the additional payment we are asking you to pay now," Raburn said in a letter to customers. The six-month deposit will bring each customer's cumulative deposit up to 60 percent of the full aircraft purchase price. Eclipse has a one-month grace period before the rebate kicks in. Thus, if the scheduled delivery month is April 2007 and the actual delivery is June 3, 2007, the buyer will be entitled to one month of the 0.5 percent offset deducted from the final payment amount.