Aktuální report č. 69 / 2011

Construction of the Department of Chemistry at the Adam Mickiewicz University - a new contract for Budimex S.A.

The Management Board of Budimex S.A. announces that on 29 July 2011 it signed with the Adam Mickiewicz University in Poznań a contract on construction of the Department of Chemistry - finishing works Stage I Task 2 segment G. The net value of the contract is PLN 23,118,441.00 net.
This is another agreement signed in last 12 months with the same entity. On 2 June 2011 the contract was signed on construction of the Centre of Advanced Technologies of Wielkopolska: Building A, A-1 Greenhouse, A-2 Animal house, along with the accompanying technical infrastructure.

• Contract value: PLN 50,173,433.48 net
• Commencement of works: construction works already underway
• Deadline: 28 June 2013
• Guarantee period: 36 months
• Financial terms and conditions:
  • Payment: 30 days from the Ordering Authority receiving a valid invoice.
  • Bank guarantee of successful execution: 5% of the gross contractual amount.
• Penalties paid by the Contractor:
  • For delay in executing the Subject of the Contract, in the amount of 0.5% of the gross remuneration for each day of delay;
  • For delay in remedying defects and faults, in the amount of 0.5% of the gross remuneration for each day of delay;
  • In case the Ordering Authority is compelled to make payments to the subcontractor, 20% of the amount transferred to the subcontractor;
  • For withdrawing from the contract by any party due to reasons independent of the Contracting Authority - 10% of the gross remuneration.
• The Parties reserve the right to supplementary compensation, which carries the amount of contractual penalties equal to the amount of damage actually suffered.
• The total value of signed contracts is 73,291,874.48 net.
  This amount exceeds 10% of the equity of Budimex SA.