Aktuální report č. 12 / 2010

New contract of Budimex SA – Buildings of the 1st stage of multi-family housing with services at Sienna Street and Kolejowa Street in Warsaw

The Management Board of Budimex S.A. hereby reports that on 19th February 2010 it learned of signing a contract for the construction of buildings of the 1st stage of multi-family housing with services located at Sienna Street and Kolejowa Street in Warsaw with PRO URBA INVEST Sp. z o.o. with its registered office in Warsaw on 18th February.

• Contract value: PLN 82,870,000 net
• Commencement date: 3.03.2010
• Deadline: 3.08.2011
• Guarantee period: 2.08.2016
• Financial conditions:
  • Payment: 28 days after the Contracting Authority has received a correctly issued VAT invoice
    Deposit: 5% of the remuneration
  • Bank guarantee for successful execution: 10% of the remuneration with the stipulation that the maximum amount of a renewed guarantee (after half of the guarantee has been used) may be determined at 25% of the remuneration
  • Maximum penalties paid by the Contractor: 12% of remuneration
  • The Parties reserve the right to supplementary compensation in excess of contractual penalties up to the amount of damage actually suffered.

The contract value exceeds 10% of the equity of Budimex S.A.