Current report no 57 / 2010

Construction of the Wielkopolskie Centrum Zaawansowanych Technologii (the Wielkopolskie Centre for Advanced Technologies)-information about selection of the bid by Budimex SA

The Management Board of Budimex SA reports that on 16 July 2010 it received information from the Adam Mickiewicz University in Poznań about the selection of the bid by the consortium of Budimex SA (the leader) and Ferrovial Agroman SA as the most favourable bid in the proceedings concerning the public procurement procedure carried out by an unlimited tender procedure for: "Construction of the Centre for Advanced Technologies, building B, C, D, Technical Gases Storage Room, Waste Storage Room".

• Net contract value: PLN 64,170,331.44
• Commencement date: up to 20 days after concluding the contract
• Deadline: 31 December 2011
• Guarantee period: 36 months
• Financial conditions:
  • Payment – 30 days after the Contracting Authority has received a VAT invoice
  • Bank guarantee of successful completion – 5% of the gross contract amount
• Contractual penalties paid by the Contractor:
  • For delay in executing the Subject of the Contract - 0.5% of the gross remuneration for each day of delay.
  • 10% for withdrawing from the contract by any party due to reasons independent of the Contracting Authority;
  • For delay in remedying defects found in the course of the acceptance or during the warranty or guarantee period - 0.5% of the gross remuneration for each day of the delay;
  • 20% of the amount the Contracting Authority will have to pay directly for the benefit of the subcontractor in the event that the general contractor does not pay the remuneration
• The Parties reserve the right to supplementary compensation which carries the amount of contractual penalties to the amount of damage actually suffered.

The contract value exceeds 10% of the equity of Budimex SA.