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Payment for construction of housing bonds – Part 2

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Payment for construction of housing bonds – Part 2

Payment for construction of housing bonds - Part 2

Housing bonds are purchased from the issuer under a contract.

The contract should provide for:


  1. Description of the object of housing construction with indication of information on full or partial performance of finishing works and warranty period.

For example: The seller acts as a customer for the construction of an apartment house No. … in accordance with the general plan of the multi-storey residential buildings (not related to residential houses of high comfort) with built-in administrative and commercial premises and an underground two-level parking lot in the street quarter … (hereinafter referred to as the Residential building) .


The buyer expresses his intention to purchase from the seller an apartment (hereinafter – Apartment) located in a dwelling house with the following characteristics:


– Building number Apartments – ..

– number of rooms – …,

– total area – … sq.m.,

– floor – …


In the Apartment, transferred to the Buyer, the following works are performed in accordance with the project documentation: preparation of walls for finishing (plastering); Uncoated floor construction; Sand and cement screed; Heating system (with installation of radiators); Water supply system (connection to the apartment riser, with the installation of water meters); Sewerage (with installation and connection of a toilet bowl); Electrical wiring (with the installation of switches, sockets and meters); Telephony; Telefication; Windows (with installation of PVC double-glazed windows), loggia – (glazing); Installation of the entrance wooden door.


In the Apartment handed over to the Buyer, the following works are not performed according to the design documentation: interior decoration of walls, floor and ceilings of premises (screed, wallpaper, painting, lining, etc.); Covering of floors; Installation of interior joinery and built-in furniture; Installation of lighting and other electrical equipment; Installation of sanitary equipment and instruments (except for the toilet and water meters).

Payment for construction of housing bonds - Part 2
Payment for construction of housing bonds - Part 2
  1. The amount of money to be paid for the cost of the premises, the number of housing bonds with an indication of the amount of their nominal values and the total equivalent of the nominal value expressed in square meters.

For example: The parties agree that 1 (one) housing bond is equivalent to 1 (one) square meter of the total area of the Apartment.

Buyer in payment for the cost of the apartment must purchase a package of housing bonds in the amount of … pieces, which in equivalent, expressed in square meters, is … sq.m. Total area of the apartment. The parties came to an agreement that the contract price of 1 (one) housing bond is … Belarusian rubles. The amount of money to be paid by the Buyer in payment for the cost of the Apartment by purchasing housing bonds is BYR.

  1. The procedure for making money for the purchase of housing bonds.

For example: The buyer undertakes to purchase housing bond packages according to the following schedule: …

Payment of the price of the first and each of the subsequent packages of housing bonds is made by the Buyer not later than 1 (one) banking day from the date of conclusion of the relevant bond purchase and sale contract.

In addition, the following conditions must be included in the contract:

– the deadline for the fulfillment of obligations under the agreement, including the issuer’s transfer of housing to the owner of housing bonds;

– rights and obligations of the parties;

– the procedure for changing the terms of the contract;

– the procedure for acceptance and transfer of living quarters;

– the grounds and procedure for terminating or amending the contract with the issuer before the expiration of the period for its execution, including in case of alienation of housing bonds;

– the procedure for the return of funds to the owner of housing bonds in the event of failure to fulfill obligations under the contract or termination of the contract before the expiry of the term for its execution established by the contract.

The terms of the contract should provide for full compensation for damages caused to the owner of housing bonds, as well as return of money contributed to the cost of living accommodation;

– responsibility of the parties for failure to perform or improper performance of obligations under the contract.

The owner of housing bonds at redemption (early repayment) of housing bonds has the right to receive their nominal value with interest income or living quarters.

In case of intention to receive a face value with payment of interest income, the owner of housing bonds must notify the issuer in writing about such intention no later than thirty calendar days before the date of redemption (early repayment).

Repayment (early repayment) of housing bonds by transferring a dwelling to the owner of housing bonds is carried out within the terms and conditions stipulated by the resolution on issue, the issue prospectus and the agreement with the issuer, and is formalized by the acceptance-transfer act.

After the signing of the act of commissioning the housing construction project, the state registration of the construction of the housing construction object and subject to the fulfillment by the owner of the housing bonds of the obligations under the agreement with the issuer, the issuer within two months passes to the owner of the housing bonds the documents necessary for registering the title to the residential premises. After state registration of such right, the issuer must transfer to the owner of housing bonds a dwelling premise, a set of keys and documents for the installed equipment.

A source: www.nb.by 

Alexander Zhuk, Master of Law, Director of the law firm “SPRAVA Consulting”.