Current report no 34 / 2016

Construction of the Non-Invasive Medicine Centre in Gdańsk – stage 1 – new contract of Budimex SA

The Management Board of Budimex SA hereby announces that on 6 May 2016, it was informed by the Medical University of Gdańsk about the selection of the Budimex SA bid in the tender procedure for the construction of the Non-Invasive Medicine Centre in Gdańsk – stage 1.
Bid value: PLN 285,924,297.92 net
Works commencement date: 7 business days as of the construction site hand-over.
Works completion date: 23 months as of the construction site hand-over.
Guarantee period: 8 years since total completion of the contract.
Financial terms and conditions:
Advance payment: no
Terms of payment: 30 days from the receipt of a properly issued VAT invoice by the Investor.
Bank performance bond: 5% of gross contract value.
Maximum penalties payable by the Contractor: 10% of net remuneration.
The Investor reserves the right to demand supplemental damages, increasing the amount of contractual penalties to the actual amount of incurred loss.
The bid value exceeds 10% of the equity of Budimex SA.