An investment project is understood as a set of organizational and technical measures for the creation (reconstruction, restoration) using investments of own or attracted capital (investments) from various sources of non-residential real estate objects, engineering structures, as well as for pre-project, preparatory, design, construction (repair), commissioning works, commissioning of the object and registration of property rights.
The contract for the implementation of an investment project must specify the address of the real estate object (construction address), house number, total area of the object, price and deadline.
The price in the contract is the amount of money to be paid by the investor for the construction (creation) of the object. It can be defined as the amount of money to reimburse the costs of construction (creation) of the object and money to pay for the customer’s services.
If the investor is a developer, then the investment contract for the construction of a real estate object can be concluded by the investor-developer with local authorities. Such a contract usually contains two main conditions for its implementation:
- the investor’s obligation to invest in the construction;
- the investor’s right (after the investments have been made) to register the constructed object as his/her property.
The customer (or the customer-developer) organizes the construction and resolves related issues within the scope of his/her authority. For this purpose, he/she enters into contracts: with contractors – for the performance of construction and installation works, with suppliers – for the purchase of material assets and equipment. In addition, the customer participates in the acceptance (including by government authorities) of the results of the work performed, transfers to investors the real estate objects (parts thereof) due to them in accordance with the terms of investment contracts.
The contract for the performance of design and survey work is concluded with the design organization. The designer undertakes to develop technical documentation or perform survey work at the request of the customer. The price of the contract for the performance of design and (or) survey work is determined in accordance with the estimate containing an itemized list of the designer’s costs for the development of technical documentation.