Aktuální report č. 66 / 2013

Sports Hall for the Poznań University of Technology - new contract for Budimex SA

The Management Board of Budimex SA informs that on 29 October 2013 an agreement with the Poznań University of Technology with its registered office in Poznań was signed as regards “Sports Hall for the Poznań University of Technology. Earth works, core and shell, closed-in building, internal sanitary, mechanical, electric, engineering and low-current systems, external networks, service lines to the building, earth works, land improvement works, external and internal finishing works, plus delivery of interior fit-up elements and sports equipment based on the design and build formula, which includes obtaining of a building permit and occupancy permit”.
Value of the agreement: PLN 26,397,652.12 net.
The Management Board of Budimex wishes to mention that this is another agreement signed with the Poznań University of Technology within the last 12 months. The highest value agreement, about which the Management Board of the issuer has not informed so far (owing to the fact that the value of the agreement has not exceeded 10% of the equity of Budimex SA), was signed on 17 June 2013 as regards “Educational Centre for the Chemical Engineering Department of the Poznań University of Technology. Finishing works, internal systems and engineering systems, low-current systems based on the design and build formula, together with delivery and assembly of specialised furniture and equipment”.

• Value of the agreement: PLN 34,602,206.21 net.
• Works commencement date: 9 July 2013, at the latest.
• Works completion date: 17 March 2014.
• Guarantee period: 36 months.
• Financial conditions:
  • Payment terms: 21 days of the invoice submission to the employer.
  • Performance bond in the form of a bank guarantee: 8% of the gross value of the agreement.
• Contractual penalties to be paid by the contractor:
  • 10% of gross remuneration for withdrawal from the agreement by any of the parties, owing to the reasons for which the contractor may be held liable;
  • 10% of gross remuneration if the design works and the works subject to this agreement shall be performed by an entity other than the contractor or by a subcontractor that has not been accepted by the employer;
  • 10% of gross remuneration if the activities reserved for the works manager shall be performed by a person other than that indicated in the tender, or a person that has not been accepted by the employer.
• Contractual penalties to be paid by the employer:
  • 10% of gross remuneration for withdrawal from the agreement by the contractor, owing to the reasons for which the employer may be held liable.
• The employer has the right to claim indemnity exceeding the value of the contractual penalties agreed.

The total value of the agreements signed with the employer within the last 12 months exceeds 10% of the equity of Budimex SA.