Igor Chumachenko, VEGAS LEX Partner, Head of Real Estate, Land and Construction practice, spoke at the seminars of Modern
Educational Technologies Development Institute (METDI) devoted
to contractual relations between developer and general contractor and analysis
of the viewpoints of developer and shared construction participant in shared
construction participation agreements.

On 9-10 October 2017, Igor Chumachenko, VEGAS LEX Partner, Head of
Real Estate, Land and Construction Practice, spoke at a series of seminars organised
by METDI.

At the seminar "Shared construction under
new rules (214-FZ): requirements
as to developers, protection of the rights of shared construction participants,
state control"
Igor
Chumachenko discussed in detail with seminar participants the
strengths and weakness of the viewpoints of developer and shared construction
participant in shared construction participation agreements (PAs). Special emphasis was put on the essential conditions and price
of agreement, period of securing obligations, warranty period and project transfer
date. The expert
took a note of the
procedure conclusion and alteration of agreement, compulsory terms and conditions, rights and obligations of the parties; pointed out the essential conditions that must
not be omitted in the substantive articles
of agreement; explained the risks that the developer bears when PA is declared not
concluded; told
about the ways of their minimisation as well as about the developer’s liability
for inappropriate use of the shared construction participants’ funds and
failure to comply with the time limits for construction; cited a list of
grounds for the developer to terminate PA and provided an overview of judicial
practice of settlement of disputes under PAs, etc

The topic of Igor Chumachenko’s speech at the seminar Investment and construction activities a new development in legislation, problematic
situations, judicial practicewas the structuring of
relations between developer and general contractor, in particular, responsibilities,
distribution of risks, volume of works, specifics of determination of time
limits, price of agreement and settlement procedure. Mr Chumachenko also highlighted the
practice of settlement of disputes over the failure to comply with the time limits
for performance and quality of works, addressed the obligations of the parties
to independent contractor agreement in case of its early termination emphasised the details that need to be included
in general contractor contracts, based on analysis of judicial
practice

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