Aktuální report č. 23 / 2013

Extension of a landing area for the Warsaw Chopin Airport - a new contract for Budimex SA and Budimex Budownictwo Sp. z o.o.

The Management Board of Budimex SA announces that on 5 April 2013 Budimex SA and Budimex Budownictwo Sp. z o.o. (a wholly-owned subsidiary of Budimex SA) concluded a contract with Przedsiębiorstwo Państwowe "Porty Lotnicze" in Warsaw for construction works: "Extension of a landing area at the Warsaw Chopin Airport in Warsaw - redevelopment and extension of apron nos. 2, 4 and 6 (along with DK D1) as well as redevelopment of Runway RWY3 and extension of taxiways."
Contract value: PLN 106,920,415.71 net
Commencement date: 2 April 2013
Deadline: 16 months from the date of the construction site entry
Guarantee period: 36 months
Financial terms and conditions:
Term of payment: 21 days from the delivery of the invoice to the Contracting Authority.
Performance bond: 5% of the gross contract value
Maximum liquidated damages to be paid by the Contractor: 10% of the net contract value
Liquidated damages to be paid by the Contracting Authority: 10% of the net contract value upon withdrawal from the contract due to the Contracting Authority.
The Contracting Authority reserves the right to seek damages in accordance with the general principles specified in the Polish Civil Code irrespective of the liquidated damages calculated, including, without limitation, damages for losses suffered by third parties for which the Contracting Authority was held liable due to untimely or improper performance of the works by the contractor.
The contract value exceeds 10% of the equity of Budimex SA.