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Prestari servicii lucrari constructii is a Romanian-language term for the scope of services rendered by a construction company to the customer, as well as for an agreement between those parties which regulates those services. The Model Contract Prestari Servicii Lucrari Constructii was drafted by Raiffeisen Bank - Romania and published on October 17th, 2014. It may be used as a reference in new contracts and/or in contracts where new terms or provisions might be added or old provisions modified. Prestari servicii lucrari constructii contracts are complex instruments, since they are composed of several clauses. Among those clauses are provisions stipulating the object of the contract, the parties to the contract, the scope of services provided by one party to another, payment terms, sanctions in case of breach etc. The document is available on the website of Raiffeisen Bank - Romania Banca Comerciala Pentru Locuinte S.A: https://www.raiffeisen.ro/wp-content/uploads/2014/10/Model-contract-prestari-servicii-lucrari-constructii_RaiffeisenBank_compressed. pdf The Model Contract has been officially published by the Romanian Chamber of Commerce. Prestari servicii lucrari constructii contracts are used in Romania in order to allow banks to offer additional services, instead of charging only interest on the amount owed by the borrower. Contracts in which prestari servicii lucrari constructii are used can be split into two main groups: The prestari servicii lucrari constructii contractual scheme takes into consideration these 3 elements when designing contracts: object, players and rights. Object: the object of the prestari servicii lucrari constructii contract is to define what services will be provided by one party to another, in case the latter is a customer. Players: in prestari servicii lucrari constructii contracts, there are 3 types of players: customers (consumers), banks and suppliers. Rights: rights in prestari servicii lucrari constructii contracts are divided into two categories: rights relating to services, and rights relating to objects. For example, when a bank accepts to provide banking services for a customer’s business, such an acceptance entails not only obligations on behalf of the bank but also obligations on behalf of the customer. As IASB - International Accounting Standards Board highlights in their Consolidated Financial Statements, prestari servicii lucrari constructii contracts are used to define contractual relations between parties, not between assets. Prestari servicii lucrari constructii contracts are formal legal instruments concluded between the parties having an interest in them. Taking into consideration the dynamics of construction, prestari servicii lucrari constructii contracts are typically concluded before the issuance of final building permits or other similar approvals. cfa1e77820
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