Aktuální report č. 61 / 2015

The completion of the construction of the Regional Court in Zamość – new contract for Budimex SA

The Management Board of Budimex SA hereby informs that on 15 September 2015 an agreement was concluded with the Regional Court in Zamość for the completion of the construction of the building of the Regional and District Courts in Zamość.

• Contract value: PLN 44,211,806.11 net.
• Works commencement date: upon the hand-over of construction site
• Works completion date: 24 months from the conclusion of the contract
• Period of guarantee: 60 months
• Financial terms and conditions:
  • Payment date: 30 days of receipt of the relevant VAT invoice by the ordering party.
  • Performance bond: 10% of gross remuneration.
• Maximum penalties incurred by the contractor:
  • 35% of gross remuneration.
• Penalties incurred by the ordering party:
  • 0.1% of gross remuneration for the delay in the hand-over of the construction site for each day of delay.
  • 10% of gross remuneration for withdrawal from the contract for reasons attributable to the ordering party.
• The parties reserve the right to demand supplemental damages in excess of contractual penalties up to the amount of the loss that was incurred.

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