Aktueller Bericht Nr. 74 / 2021

Contract 1B.2 "Modernisation works on the border Odra River, Stage I Modernisation works to ensure winter ice-breaking" - signing of the contract

The Management Board of Budimex SA announces that on 27 September 2021 the contract has been concluded between Budimex S.A  and Państwowe Gospodarstwo Wodne Wody Polskie, Regionalny Zarząd Gospodarki Wodnej (eng. Regional Water Management Authority) in Szczecin in the tender procedure for Contract 1B.2 Modernisation works on the border Odra River, Stage I - Modernisation works to ensure winter icebreaking, Part 1, Part 2, Part 3.

Sum for Parts 1, 2 and 3: PLN 201,552,591.54 net

Contract value: PLN 201,552,591.54 net

Works commencement date: from signing the contract

Works completion date: 730 days, i.e. 24 months from the conclusion of the contract

Guarantee period: 12 months

Warranty period: 12 months

Advance payment: 15% of the accepted gross contract amount.

Payment terms: 30 days from the day of delivery of a correctly issued VAT invoice to the Ordering Party by the Contractor

Bank performance bond: 9% of the accepted gross contract amount

Securing the fulfilment of environmental and social obligations: 1% of the accepted gross contract amount

Essential terms of contract, specific for the contract: FIDIC and the World Bank procedures

Maximum amount of contractual penalty paid by the Contractor: 10% of the accepted gross contract amount

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.

Other terms and conditions of the contract do not differ from the market standards.

The contract value exceeds the threshold of PLN 167,645 thousand net.