Aktuální report č. 16 / 2014

Construction of the S5 expressway - Bojanów and Rawicz ring road - completion of works - a new contract for Budimex SA

The Management Board of Budimex SA announces that on 21 February 2014 a contract was concluded with the General Directorate for National Roads and Motorways, Branch in Poznań, for "Construction of the S5 expressway, Poznań section (A2, Głuchowo junction), Wrocław (A-8, Widawa junction), Kaczkowo - Korzeńsko section (Bojanów and Rawicz ring road) - completion of works".

• Contract value: PLN 198,799,365.60 net
• Commencement date: 7 days from the date of concluding the contract
• Work completion date: 8 months from the commencement date (excluding winter periods from 15 December to 15 March)
• Guarantee period: 7 years
• Financial terms and conditions:
  • Advance payment: two options for the contractor: 5% or 10% of the gross contractual price
  • Payment: 30 days from the delivery of the invoice to the Contracting Authority
  • Bank performance bond: 10% of the gross offered price
• Maximum penalties paid by the Contractor: 20% of the gross contractual price
• Contractual penalties to be paid by the Contracting Authority: 15% of the gross contractual price upon withdrawal from the contract due to the Contracting Authority
• The Contracting Authority reserves the right to claim supplementary compensation which adapts the amount of contractual penalties to the amount of damage actually suffered and lost profits

The value of the contract exceeds 10% of the equity of Budimex SA.