Current report no 43 / 2016

New Budimex SA contract: construction of a group of production facilities for assembly of installations for milk and whey drying and storage located on a plot at ul. Kormoranów 29/5 in Mrągowo

The Management Board of Budimex SA hereby announces that on 14 June 2016, the contract with Spółdzielnia Mleczarska "MLEKPOL" was signed for the construction of a group of production facilities for assembly of installations for milk and whey drying and storage located on a plot at ul. Kormoranów 29/5 in Mrągowo.
Contract value: PLN 118,000,000.00 net.
Works commencement date:  14 June 2016
Works completion date:  28 September 2018
Guarantee period: 3 years
Financial terms and conditions:
Advance payment: none
Payment terms: 30 days from the receipt of a VAT invoice by the Ordering Party
Bank performance bond: 10% of net contract value.
Maximum penalties payable by the Contractor: up to 20% of gross contract value. Additional penalty for withdrawal from the Contract:  up to 10% of gross contract value.
The payment of the contractual penalties does not exclude the right to claim compensation exceeding the amount of those penalties, but not beyond the gross contract value.
Penalties payable by the Ordering Party: 0.1% of contract value for delayed handover of the site per each day of delay.
The value of the Contract exceeds 10% of Budimex SA’s equity.