[Code of Federal Regulations] [Title 14, Volume 4] [Revised as of January 1, 2008] From the U.S. Government Printing Office via GPO Access [CITE: 14CFR294.32] [Page 238-239] TITLE 14--AERONAUTICS AND SPACE CHAPTER II--OFFICE OF THE SECRETARY, DEPARTMENT OF TRANSPORTATION (AVIATION PROCEEDINGS) PART 294_CANADIAN CHARTER AIR TAXI OPERATORS--Table of Contents Subpart D_General Rules for Registrants Sec. 294.32 Security arrangements for operating Public Charters. When a Canadian charter air taxi operator performs a Public Charter under part 380 of this chapter, either: (a) The Canadian charter air taxi operator shall meet the bonding or escrow requirements applicable to foreign air carriers as set forth in Sec. 212.8 of this chapter. (b) The Canadian charter air taxi operator shall ensure that it does not receive any payments for the charter until after the charter has been completed. In this case, its contracts with the charter operator and the charter operator's depository bank, if any, [[Page 239]] shall state that the charter operator or bank, as applicable, shall retain control of and responsibility for all participant funds intended for payment for charter air service until after the charter has been completed, notwithstanding any provision of part 380. [ER-1257, 46 FR 52591, Oct. 27, 1981, as amended by Doc. No. 2006-25691, 71 FR 49347, Aug. 23, 2006]