Current report no 74 / 2017

Construction of the S7 express road on the section: border of Mazowieckie /Świętokrzyskie provinces – road and rail junction in Skarżysko-Kamienna – signature of the contract

The Management Board of Budimex SA informs that on 10 October this year it concluded the contract for “Construction of the S7 express road on the section: border of Mazowieckie/Świętokrzyskie provinces – road and rail junction in Skarżysko-Kamienna” with the General Directorate for National Roads and Motorways. We announced that our company’s bid had been selected as the most advantageous one in current report No. 58/2017 of 21 July 2017. Contract value: PLN 211,248,656 net.

Works commencement date: from the contract date

Works completion date: 22 months from the contract date

Guarantee period: 120 months

Statutory warranty period: 60 months

Advance payment: from 5% to 10% of the Accepted Gross Contract Amount.

Terms of payment: payment made within 30 days of the date of the Contractor’s delivery of the invoice to the Employer

Bank performance bond: 10% of the Total Gross Contract Value

Contractual penalties: the total amount of contractual penalties payable to the Employer will not exceed 20% of the Accepted Gross Contract Amount.

Penalties for the Employer: 15% of the Accepted Gross Contract Amount for withdrawal from the contract due to reasons attributable to the Employer.

The Employer reserves the right to demand supplemental damages in excess of the contractual penalties up to the amount of the actual loss that was incurred. 

The value of the contract exceeds the threshold of PLN 111 446 thousand.