Current report no 10 / 2016

Construction of S5 express road at the Leszno Płd. (with junction) – Kaczkowo section — receipt of information on the selection of Budimex SA bid

The Management Board of Budimex SA hereby announces that on 11 February 2016, it was informed by the Poznań Branch of the General Directorate for National Roads and Motorways about the selection of the Budimex SA bid in the tender procedure for the construction of the S5 Poznan-Wrocław express road at the Radomicko-Kaczkowo section, stage II of the Leszno Płd. (with junction) – Kaczkowo section.

• Bid value: PLN 189,144,680.73 net.
• Works commencement date: on the Contract date.
• Works completion date: 20 months from the Contract date. The implementation time does not include winter periods (i.e. from 15 December to 15 March).
• Guarantee periods: 10 years for pavement structure (excluding wearing course), acoustical barriers, traffic signs, concrete prefabricates, road engineering structures; 5 years for the wearing course; 4 years for thick layer traffic marks; 3 years for greenery; 1 year for thin layer traffic marks.
• Financial terms and conditions:
  • Advance payment: from 5% to 10% of the accepted gross Contract amount.
  • Payment: 30 days from the receipt of a VAT invoice by the Investor.
  • Bank performance bond: 10% of the accepted gross Contract amount.
• Maximum penalties payable by the Contractor:
  • 20% of the accepted gross Contract amount.
• Maximum penalties payable by the Investor:
  • 15% of the accepted gross Contract amount in case of withdrawal from the Contract due to the reasons attributable to the Investor.
• The Investor reserves the right to demand supplemental damages increasing the amount of contractual penalties up to the actual amount of incurred loss and lost profits.

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