Aktueller Bericht Nr. 64 / 2011

Construction of S8 expressway, section 1 Walichnowy interchange - a new contract for Budimex SA

The Management Board of Budimex SA announces that on 15 July 2011 it signed a contract with the National Treasury - General Director for National Roads and Motorways, represented by the General Directorate for National and Motorways with the branch in Łódź on "Construction of S8 expressway on the section: Walichnowy interchange - Łódź (A1), section 1 (Walichnowy interchange) from km 99 +937.00 to km 101+972.92".

• The contract is worth PLN 95,737,815.71 net
• Commencement date: no longer than within 14 days from the date of signing the contract
• Deadline: 20 months from the date of signing the contract
• Guarantee period 60 months from the date indicated in the certificate of acquisition
• Financial terms and conditions:
  • Payment: 30 days from the date of delivering the invoice to the Contracting Authority
  • Good performance bank guarantee: 5% of the gross contract value
• Penalties paid by the Contractor:
  • For exceeding the time for completion of works - 0.02% of the approved gross contractual amount for each day of delay
  • For withdrawal from the contract for reasons attributable to the Contractor - 10% of the approved gross contractual amount
  • For failure to execute the required minimum within the time limit - 0.02% of the approved gross contractual amount for each day of delay The contractual penalties for failure to comply with any of the conditions regarding the required minimum for execution will be calculated separately
• Penalties paid by the Contracting Party:
  • For withdrawal from the contract for reasons attributable to the Contracting Authority - 10% of the approved gross contractual amount
• The Contracting Authority reserves the right to supplementary compensation which carries a value of contractual penalties to the amount of damage actually suffered

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