Current report no 78 / 2017

Signing of a contract for the design and construction of S-61 express road Ostrów Mazowiecka–Szczuczyn, section: Stawiski junction (excluding the junction) – start of the Szczuczyn ring road, with the length of approx. 18.002 km [S61]

The Management Board of Budimex SA announces that on 31 October 2017, it signed a contract with the General Directorate for National Roads and Motorways for the design and construction of S-61 express road Ostrów Mazowiecka–Szczuczyn, section: junction Stawiski (excluding the junction) – start of the Szczuczyn ring road, with the length of approx. 18.002 km [S61]. The Company informed about the selection of the Budimex bid as the most advantageous bid in the report No 52/2017 of 3 July 2017, and about the fact that the Budimex bid in this tender received the best score was announced by the Company in the report No 45/2017 of 19 June 2017.
Contract value: PLN 278,157,883 net
Works commencement date: on the contract date
Works completion date: 31 months; the implementation time does not include winter periods, the design time includes winter periods
Guarantee period: 120 months
Advance payment: 5–10% of the Gross Contract Value
Payment: within 30 days from the date of receipt by the Employer of a valid invoice in accordance with the annexed Interim Payment Certificate and acceptance certificates.
Bank performance bond: 10% of the Accepted Gross Contract Value.
Contractual penalties paid by the Contractor:
- 15% of gross remuneration for the withdrawal from the contract or its termination due to reasons attributable to the Contractor
Contractual penalties payable by the Employer:
- for withdrawal from the contract due to reasons attributable to the Employer: in the amount of 15% of gross remuneration
Maximum penalties: 20% of gross remuneration
The Employer reserves the right to seek damages under generally applicable rules if the amount of loss sustained exceeds the amount of the stipulated contractual penalty
Other terms and conditions of the contract do not differ from the market standards.
The bid value exceeds the threshold of PLN 111,446 thousand.