Aktuální report č. 24 / 2013

Second Stage of the Residential and Service Complex: "19th District" in Warsaw - a new contract for Budimex SA

The Management Board of Budimex SA reports that on 8 April 2013 it learned of the signing of a contract for the construction of two multi-family residential buildings, F and G, with services, an underground garage, parking lots, a transport network and development of land, located at Kolejowa Street in Warsaw, with PRO-URBA INVEST Sp. z o.o. with its registered office in Warsaw, on 5 April 2013 (second stage of the "19th District" Residential Complex).
Net contract value: PLN 88,930,413.00
Commencement date: 7 business days from the day of concluding the contract.
Deadline for completion of work and obtaining the occupancy permit: 31 October 2014
Guarantee period: 60 months for construction and installation works; 24 months for equipment and receivers/meters; 10 years for the structure, roof impermeability, brick walls and screeds at the premises
Financial terms and conditions:
Term of payment: 28 days from the delivery of the invoice to the Contracting Authority.
Performance bond: 10% of the net contract value.
Maximum penalties: 12% of the net contract value
The parties are entitled to claim compensation exceeding the value of the contractual penalties.
The contract value exceeds 10% of the equity of Budimex SA.