Orders and Delivery processHope this helps some of you understand how the bizz jet market works. Lets say a customer wants to buy a jet from manufacturer A worth $50 million. At the signing of the contract the customer has to put down security deposit (for our example) its 10%. This commits the customer to follow thru the order if not then they lose the deposit. During signing the delivery date, late penalties etc are agreed upon and sets all the terms. For our example it takes 2 years to build the jet so what usually happens is as the jets get build the customer is required to make deposits. Industry norm is for customer to keep paying until day of delivery and the final installment is paid just prior to customer acceptance. So in our example 5 mill is paid and 45 mill has to be paid in 24 months. So each month the customer is putting down 1.875 mill (45 mill24 months). To protect both party this money is held in trust if manufacturer goes under then customer gets money back and if customer misses installment then manufacturer keeps remaining deposit and sells that jet to another customer. This process was implemented after 2008/9 crash where some OEM were stuck will white tails (jets build but no buyer). This is why i am not worried a out when the delivery will take place. The cheque is in bombardiers pocket but they cant cash it until they deliver. Its not if but when. Type of customers that buy bizz jet can be split into 2 categories. High net worth and single jet operator (company jet with only one airplane) is one category and the other is company jet (multiple airplane fleet), and charter operators with many jets such as netjet, flexjet etc. For charter operators and multi airplane fleet operators the interior are same for all aircraft (if they are same model) so its pretty straightforward assembly and delivery. Complications happens when building for high net worth or for companies that have only one airplane. They all pick different layout and individual customization which increases build time. Its quick, easy and cheap to build 100 airplanes for one customer with same interior then 100 jets for 100 customers with 100 different layout. Global 7500 at this stage are building for the latter. For delays and penalties if it is caused by manufacturer then manufacturer pays the cost as per signing contract but if delay is caused by customer then customer is on hook for additional ls labour time etc. As for why most bizz jet are scheduled for end of year delivery has to do with supply chain and raw materials. Aerospace while a big industry has very little supply chain base and everything is intertwined. For example bombardier provides a320neo nacelles to AB, AB owned company makes fuselage for Global, Mitsubishi makes flight control surfaces for bombardier, to an extent that some BA owned 3 tier companies supply to AB and AB owned tier 3 makes parts for Boeing. At the end of the day supply chain and raw material flow to big orders first and then trickles down to low volume product line such as Global. So bombardier gets their parts after AB and BA orders are filled. Customization of interior is a problem as those making interior for global also provide interior the big 2. If you company has contract to make 100k seats for AB with $100 profit per seats and 100 high end seats for for bbd with $1000 profit which contract will you fill first. I know bbd exec are saying they will make the target but i think they wont. I am not worried as these airplanes are already sold and if suppliers cause delay then they pay penalties.