Current report no 77 / 2017

Budimex bid for the construction of the Biskupia Górka flyover selected by Dyrekcja Rozbudowy Miasta Gdańska

The Management Board of Budimex SA announces that on 30 October 2017 it was informed by Dyrekcja Rozbudowy Miasta Gdańsia that the bid of Budimex SA was selected as the most advantageous one in the tender procedure for the construction of the Biskupia Górka flyover.

Contract value: PLN 116,784,921.23 net

Commencement date: from the contract date

Completion date: 31 July 2019

Guarantee period: 60 months

Statutory warranty period: 60 months

Advance payment: none

Payment conditions: within 30 days of the date of delivery of VAT invoices to the Employer, issued for the amounts certified in Payment Certificates

Bank performance bond: 5% of the Accepted Gross Contract Amount

Contractual penalties paid by the Contractor:

- 10% of remuneration for the withdrawal from the contract due to reasons attributable to the Contractor;

Penalties payable by the Employer:

- 10% of remuneration for the withdrawal from the contract due to reasons attributable to the Employer;

The Parties are entitled to supplemental damages.

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

The bid value exceeds the threshold of PLN 111,446 million.