AGREEMENT on investment in construction
Republic of Moldova, Chisinau municipality
___________________ year two thousand and ___________
We the undersigned,
Construction company “XXX” Joint Stock Company, IDNO 0000000000000, acting on the basis of
Charter and Registration certificate dated 00.00.0000, registered with the Registation Chamber of
State by the Ministry of Informational Development of the Republic of Moldova, referred hereinafter
to as “DEVELOPER”, on the one part, and
Mr.________________, born on _________, personal code _________________________, holder
of ID card___________, issued on __________, by office__, residing
at:________________________________, referred hereinafter to as “SHAREHOLDER”, on the
other part, have entered into this Agreement as follows:
GENERAL DEFINITIONS
The term used in this Agreement shall have the following meaning:
Residential building, which includes 2, 3, 4 room apartments, car parking lots, located at: Chisinau
municipality, ________________ street, being built by Construction Company “XXX” JSC.
Rea property object – Х-room apartments no. __ , area of which is in accordance with design
documentations, ____ m2, area of balconies ____ m2 on Хth floor, entrance __ of the Residential
building at ______________ street, Chisinau municipality.
I. SUBJECT OF AGREEMENT
As per the term of this Agreement, SHAREHOLDER shall finance construction of the Real project
object under the terms and conditions of this Agreement, and DEVELOPER shall build the Real
project object, and then transfer ownership title to the SHAREHOLDER.
II. DEVELOPER’S RIGHTS AND OBLIGATIONS
2.1. DEVELOPER shall:
a) arrange for funding and construction of the Residential building in accordance with design
documentation and estimates, technical specifications, and construction norms and rules in effect in
the Republic of Moldova;
b) provide funding and performance of a complex of construction works on the Real project object as
per the design documentation and estimates.
c) advise SHAREHOLDER, at his request, on progress in construction of the Real project object;
d) keep records and control the making of financial reports by the SHAREHOLDER for the Real
project object, as per Section IV hereof;
e) arrange for commissioning by the State acceptance commission a Residential building ready for
commissioning at _____________ street, Chisinau municipality, where the Real project object is
located - apartment no.__- not later than __ quarter of year 20__
f) eliminate shortcomings pointed out by the State acceptance commission in the Acceptance
certificate for a Residential building ready for commissioning;
g) within 15 calendar days after commissioning of the Real project object by decision of the State
acceptance commission, transfer ownership title for the Real project object to Shareholder in
accordance with the legislation in force.
h) Facilitate formation of a Condominium of residents in residential building at ____________ street,
Chisinau municipality.
2.2. In case of undue performance of the terms and conditions in clause 4.3 hereof, DEVELOPER
may unilaterally terminate this agreement and reverse the parties in their initial position as per
articles 733-746 Civil Code of the Republic of Moldova, and the above-indicated apartment will be
assigned to a new investor.
III. SHAREHOLDER’S RIGHTS AND OBLIGATIONS
3.1. SHAREHOLDER may:
a) make financial settlements in advance for the Real property object as per Section IV hereof;
b) after receipt of the Real property object from the DEVELOPER according to the Acceptance
certificate, perform finishing works and install technical devices, at his discretion and at his expense
according to technical specifications and construction norms and rules in effect in the Republic of
Moldova;
c) assign his rights to a third party to the Real property object under this Agreement only in
accordance with the legislation in force.
3.2. SHAREHOLDER shall:
a) make financial settlements for purchased Real property object in accordance with Section IV
hereof;
b) receive the Real property object from DEVELOPER as per Acceptance certificate after
certification of its readiness for commissioning according to the Certificate of the work acceptance
commission for the first stage;
c) after commissioning of the Real property object according to decision of the State acceptance
commission, accept and make ownership title for the Real property object by registration with the
Territorial cadastre office in Chisinau municipality.
IV. REAL PROPERTY PRICE AND SETTLEMENT OF PAYMENTS
4.1. The agreement price for the Real property object, by mutual consent of the parties is
__________ (_____________) conventional units, where 1 c.u. is equal to 1 Euro.
4.2. This price includes plastering of walls in the apartment, floor preparation, 1 cycle of sanitaryware
and electrical wiring works, gas pipelines, installation of gas and electricity meters, water meters,
installation of entrance metal door, installation of window blocks, balcony frames and balcony metalbased laminate doors, individual heating including radiators and boiler.
4.3. SHAREHOLDER shall pay for the above-indicated apartments according to the following
schedule:
_______ (________) c.u. on the day of signature of this agreement
_______ (_________) c.u within _____ calendar days from the date of signature of this agreement.
If the residential building must be commissioned with completely finished apartments as per
legislation of the Republic of Moldova, SHAREHOLDER shall pay for all performed works not
indicated in this agreement, according to actually incurred expenses.
4.4. All payments between the parties shall be made in Moldovan Lei at the exchange rate of
Commercial bank “ХХХХХХХХХ” JSC on the day of payment.
V. RESPONSIBILITY OF THE PARTIES
5.1. DEVELOPER shall be liable for quality of construction and meeting the agreement deadline for
commissioning of the Real property object in accordance with the legislation in force.
5.2. DEVELOPER shall, at his expense, eliminate all shortcomings pointed out by the
SHAREHOLDER in work performed on the Real property object, during the warranty period provided
for in construction regulations and rules if any disputes arise with regard to defects in the Real
property object, responsibility of the party in fault shall be determined by representatives of the State
inspection in construction.
5.3. DEVELOPER shall be exempt from liability for defects arising during the warranty period in the
Real property object as a result of violations committed by the SHAREHOLDER.
5.4. SHAREHOLDER, by giving a 15 days prior notice to DEVELOPER in writing, may demand to
terminate this Agreement, and DEVELOPER shall, at SHAREHOLDER’S request, repay the entire
amount received by the DEVELOPER as payment for the Real property object, providing that:
а) DEVELOPER exceeded the agreed term of Real property object commissioning by more than 3
months,
The money shall be repaid to SHAREHOLDER by DEVELOPER within 30 working days after official
termination of this Agreement.
5.5. SHAREHOLDER may demand to terminate this Agreement before term for other reasons as
well, including if SHAREHOLDER refuses to purchase the Real property object, by giving a 15 days
prior notice to DEVELOPER before termination of Agreement.
5.6. The money shall be repaid to SHAREHOLDER as per clauses 5.4-5.5 by DEVELOPER in
Moldovan Lei in the amount equivalent to the amount in Euro, calculated at the exchange rate on the
day when DEVELOPER received it in his account, that is without indexation and inflation.
5.7. If SHAREHOLDER terminated this agreement for one of the reasons indicated in clause 5.5.
hereof, DEVELOPER may unilaterally withhold 5% of the amount paid by SHAREHOLDER under
the agreement for financing of apartment construction, in the form of expenses.
VI. FORCE MAJEURE
6.1. Force majeure circumstances shall be understood by the parties as any unforeseen
circumstances caused by such natural phenomena as earthquakes, fire, hurricane, torrential rain,
deluge, snowfall, landslide, drought, or social events: revolution, state of war, blockade, terrorist
acts, protests, bans on imports and exports in the interest of state, epidemics and other
extraordinary events, objective occurrence of which had rendered impossible performance of
contractual obligations by the parties.
6.2. If during the term of this Agreement a force majeure event will occur, if it is confirmed by
certificate issued by the Commerce and Trade Chamber of the Republic of Moldova:
а) DEVELOPER may:
• postpone the term for commissioning of the Real property object, as shown in clause 2.1 e) hereof,
to a later term;
б) SHAREHOLDER may:
• change the amount and postpone the term of payment, as shown in clause 4.3. hereof;
• terminate this Agreement and receive the entire amount of money back, paid as per clause 4.3.
hereof.
VII. OTHER PROVISIONS
7.1. The parties shall keep secret all commercial information they may have about each other. In
case of leakage of any information which resulted in financial losses to a party, the other party shall
bear responsibility before the party that incurred losses in accordance legislation in force.
7.2. According to the law on residential stock condominium, approved by the Parliament of the
Republic of Moldova on 30th of March 2000 under no.913-XIY, DEVELOPER shall:
a) in a timely manner prepare set of documents and by the time of official commissioning of the
residential building, facilitate to formation of Co-owners association in Residential building
condominium at ____________________ street, Chisinau municipality;
b) after official commissioning of Residential building at ______________________ street, Chisinau
municipality, transfer on the balance of Co-owners association in Residential building condominium
at ________________ street, Chisinau municipality, the constructed buildings and installations,
equipment and utilities networks, with adjacent territory;
7.3. By the time of receipt of the Real property object, SHAREHOLDER shall:
a) become member of Co-owners association in Residential building condominium at
___________________ street, Chisinau municipality;
b) fulfill provisions of Association Charter, approved by general meeting of its members.
7.4 DEVELOPER guarantees that apartment no. __ in residential building at ________________
street, Chisinau municipality is not burdened with mortgages, debts, obligations under agreement or
other obligations of the DEVELOPER or third parties.
VIII. OWNERSHIP TITLE FOR REAL PROPERTY
8.1. In performance of contractual obligations by the parties, DEVELOPER shall transfer ownership
title for the Real property object to SHAREHOLDER free from any restrictions or burdens as per
legislation in force. Along with the Real property object SHAREHOLDER shall receive all rights
thereto.
8.2. Expense for making of the ownership title for the Real property object shall be covered by
SHAREHOLDER.
8.3. In case of death or if SHAREHOLDER is legally found incapable, all his rights and obligations at
any stage of performance of this Agreement shall be transferred to his successors as per legislation
in force.
IX. AGREEMENT TERM
9.1. This Agreement becomes effective from the time of signature by the parties.
9.2. This Agreement shall be valid until full performance of obligations assumed by the parties, or in
case of termination of Agreement in accordance with Section V hereof.
X. FINAL PROVISIONS
10.1. Additions and amendments to the terms and conditions of this Agreement shall be valid obly if
made in the same form as this agreement.
10.2. Information on address or other details changes of SHAREHOLDER shall be provided to
DEVELOPER in writing not later than 5 days after occurrences of such changes.
10.3. Information on address or other details changes of DEVELOPER shall be made known to
SHAREHOLDER after 10 days of occurrence of such changes.
10.4. Any disputes which may arise between the parties in performance of this Agreement shall be
settled by mutual consent of the parties, and it disputes cannot be settled amicably, they shall be
submitted for examination to a competent judicial instance.
10.5. This Agreement has been made in 4 copies: one copy for each agreement party, one copy for
the notary, and one copy for the State Enterprise “CADASTRU”, which have equal legal force.