Aktuální report č. 26 / 2011

Office and commercial facility at Grunwaldzka Street in Poznań – new contract of Budimex SA

The Management Board of Budimex SA hereby states that on 4 April 2011, having received relevant documents, they were informed of the signing of a contract with 2Build Sp. z o.o. on 01 April 2011 regarding building an office and commercial facility at 182-196 Grunwaldzka Street in Poznań along with the necessary infrastructure.

• Net contract value: PLN 73,600,000.00
• Commencement date: no later than on 10 April 2011
• Completion date: no later than on 31 October 2012
• Guarantee period:
  • 10 years for roof covering, aluminium metal work and glazing, elevation facing, steel and reinforced concrete structure, roads and pavements;
  • 3 years for the other elements of the facility and infrastructure.
• Payment deadline: 30 days after the Contracting Authority has received the invoice
• Bank guarantee: 5% of the gross contract value
• Contractual penalties paid by the Contractor:
  • 0.2% of the gross contract value for delay in the completion of work for each day of delay
  • 15% of the gross contract value for withdrawal from the contract by either party for reasons attributable to the Contractor
• Contractual penalties paid by the Contracting Authority:
  • 15% of the gross contract value for withdrawal from the contract by either party for reasons attributable to the Contracting Authority
• The Parties reserve the right to claim supplementary compensation on general terms determined in the Civil Code.

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