The construction contract regulates the construction of a building, and its essential elements include the description of works, price, deadlines, and the contractor's obligations. The types of contracts can be fixed or open, depending on whether the price and deadlines remain unchanged or are adjusted during the execution of the works. The participants in the contract include the investor (client) who owns or invests in the project, and the contractor who is responsible for the construction according to the agreed terms. The construction contract is characterized by high risk due to many unpredictible factors that can influence the progress and outcome of the construction. The warranty period represents the time during which the contractor is liable for any defects or faults in the constructed building and is obligated to rectify them. The contract may be terminated with or without compensation, depending on the conditions specifiled in the contract itself. Disputes arising from the execution of the works are often resolved through arbitration or by filing a lawsuit, in order to decide on any disagreements and disputes between the contracting parties.