Datum: 6. September 2011
Construction of a Shopping Centre FACTORY Annopol - a new contract for Budimex
The Management Board of Budimex SA announces that on 5 September 2011 it signed an agreement with Neinver Annopol Sp. z o.o. with its registered office in Warszawa on the construction of a Shopping Centre FACTORY Annopol.
- The contract is worth PLN 61,600,000.00 net
- Work commencement date: after the notification by the Investor of the commencement date
- Deadline: 354 days from the commencement date
- Guarantee periods:
- 3 years - for mechanical equipment (except for consumables and maintenance)
- 5 years - basic guarantee for the works
- 10 years - for the roof, steel structures and insulations
- 20 years - for reinforced concrete structures
- Financial terms and conditions:
- Advance payment: 5% of the net contract value
- Payment: 30 days from the date of delivering the invoice to the Investor
- Deposit: 10% of the net contract value
- Bank guarantee of successful execution: 10% of the net contract value
- Maximum penalties: 10% of the net contract value
- The Investor is entitled to claim compensation according to the general rules, if the value of damage exceeds the value of the penalties
The contract value exceeds 10% of the equity of Budimex S.A.