diff --git a/app/models/rate.rb b/app/models/rate.rb
new file mode 100644
index 0000000..9cb19ca
--- /dev/null
+++ b/app/models/rate.rb
@@ -0,0 +1,2 @@
+class Rate < ActiveRecord::Base
+end
diff --git a/db/migrate/001_create_rates.rb b/db/migrate/001_create_rates.rb
new file mode 100644
index 0000000..8250b23
--- /dev/null
+++ b/db/migrate/001_create_rates.rb
@@ -0,0 +1,14 @@
+class CreateRates < ActiveRecord::Migration
+  def self.up
+    create_table :rates do |t|
+      t.column :amount, :decimal, :precision => 15, :scale => 2
+      t.column :user_id, :integer
+      t.column :project_id, :integer
+      t.column :date_in_effect, :date
+    end
+  end
+
+  def self.down
+    drop_table :rates
+  end
+end
diff --git a/db/migrate/002_add_indexes_to_rates.rb b/db/migrate/002_add_indexes_to_rates.rb
new file mode 100644
index 0000000..134888d
--- /dev/null
+++ b/db/migrate/002_add_indexes_to_rates.rb
@@ -0,0 +1,13 @@
+class AddIndexesToRates < ActiveRecord::Migration
+  def self.up
+    add_index :rates, :user_id
+    add_index :rates, :project_id
+    add_index :rates, :date_in_effect
+  end
+
+  def self.down
+    remove_index :rates, :user_id
+    remove_index :rates, :project_id
+    remove_index :rates, :date_in_effect
+  end
+end
diff --git a/spec/models/rate_spec.rb b/spec/models/rate_spec.rb
new file mode 100644
index 0000000..de50117
--- /dev/null
+++ b/spec/models/rate_spec.rb
@@ -0,0 +1,2 @@
+require File.dirname(__FILE__) + '/../spec_helper'
+