Current report no 84 / 2017

Signing of a contract for finishing off the construction of the Racibórz Dolny dry polder

The Management Board of Budimex SA announces that on 30 November 2017 the consortium of Budimex SA (consortium leader with a share of 95%) concluded with the Regional Authority for Water Management in Gliwice a contract for finishing off the construction of the Racibórz Dolny dry polder.
The Company informed about selection of the bid submitted by the consortium as the best one in the Current Report No 81 of 17 November 2017.  
Contract value: PLN 734,850,242.28 net
Commencement date: within 180 days from receiving the Acceptance Letter
Completion date: within 740 days from the works commencement date
Term of guarantee: 365 days. Advance payment: 10% of the Accepted Contract Amount as a one-off payment in currencies, in which the Accepted Contract Amount is to be paid and according to the share of these currencies.
Payment conditions: within 56 days from the date the Employer receives the settlement and associated documents, or, when Bank loan or credit are suspended, the amount specified in the settlement submitted by the Contractor within 14 days from submitting such settlement. Amount confirmed in the final Payment Certificate within 56 days from the receipt of that PC by the Employer.
Bank performance bond: 10% of the Accepted Contract Amount
Contractual penalties paid by the Contractor: Contractual penalties do not differ from market level.
Contractual penalties paid by the Employer: none. 
Other terms and conditions of the contract do not differ from the market standards.
The value of the contract exceeds the threshold of PLN 111,446 thousand.