Aktuální report č. 41 / 2015

Housing estate construction in Łódź — new Budimex SA contract

The Management Board of Budimex SA would like to announce that on 6 July 2015 it concluded a contract with mLocum SA, with its registered office in Łódź, for the construction of a housing estate in Łódź at ul. Łąkowa 23/25.

• Contract value: PLN 61,000,000.00 net.
• Works commencement date: upon hand-over of the construction site
• Works completion date: 25 months from the signing of the contract.
• Guarantee period: 5 years.
• Financial terms and conditions:
  • Payment dates: 30 days of receipt by the ordering party of the relevant VAT invoice.
  • Performance bond: 5% of net remuneration resulting from the schedule for the period of the first three settlement periods.
• Maximum penalties: 10% of net remuneration.
• The Ordering Party reserves the right to seek damages under general applicable rules if the amount of loss sustained exceeds the amount of the stipulated penalty.

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