Aktuální report č. 7 / 2011

Construction of an office and hotel building - a new contract for Budimex S.A.

The Management Board of Budimex reports that on 3 February 2011 a contract was signed with Toya Sp. z o.o. with its registered office in Łódź for construction of an office and hotel building – as regards building the shell, high-efficiency electrical installations and sanitary installations.

• Net contract value: PLN 64,429,161.82
• Commencement date: no later than 7 days from the date of concluding the contract
• Deadline: 23 months from the date of concluding the contract
  Warranty period: 5 years from the date of the final acceptance
• Financial conditions:
• Payment: Financial matters between the Contractor and the Contracting Authority will be settled on a monthly basis, based on invoices including part of the remuneration, issued by the Contractor based on the work progress protocols signed by the Contracting Authority for performance of completed works accepted by the Contracting Authority. The invoices issued by the Contractor shall be payable within 30 days from the date they are accepted by the Contracting Authority.
• Bank guarantee of successful execution – 10% of the Net Contractual Amount
• Maximum penalties: 15%
• The Contracting Authority reserves the right to supplementary compensation which adapts the amount of contractual penalties to the amount of damage actually suffered.
• The contract value exceeds 10% of the equity of Budimex S.A.