Whilst we support the IFRIC's efforts to provide clarification for transactions in which agreements for sale of real estate are reached before the construction is complete, we do not support the consensus as proposed in the Draft Interpretation as it does not clearly articulate the underlying principles and logic to distinguish a contract for the delivery of goods from that for the delivery of construction services. To assist the IFRIC in their re-deliberations of the Draft Interpretation we have articulated what we see as the relevant principles in Appendix A to this letter. The Appendix suggests some indicators to assist in distinguishing the characteristics of the delivery of goods from those of construction services. In our view, whether a contract is for the delivery of goods or for the provision of construction services is a spectrum in which judgement will need to be exercised in order to determine how a contract should be classified.