Budimex.pl

Current report no 16 / 2011

Date: March 11, 2011

Design and construction of the Augustów ring road on national road no. 8 and express road S61 – a new contract for Budimex SA

The Management Board of Budimex SA announces that on 11 March 2011 a contract was signed with the General Directorate for National Roads and Motorways, Branch in Białystok, for the “Design and construction of the Augustów ring road on national road no. 8 (section from the interchange of Augustów to Szkocja interchange) and express road S61 (section from Szkocja interchange to Lotnisko interchange)”.

  • Contract value: PLN 535,998,924.98 net
  • Commencement date: on the date of signing the contract
  • Completion date: 42 months from the conclusion of the contract
  • Guarantee period: 5 years
  • Financial conditions:
    • Payment: 30 working days from the delivery of a correctly issued VAT invoice to the Principal
    • Bank guarantee for successful execution: 5% of the total gross amount
  • Contractual penalties paid by the Contractor:
    • for exceeding the deadline for completing the conceptual design, obtaining a map for project purposes and obtaining confirmation of the respective certificates: 0.02% of the total gross amount for each day of delay
    • for exceeding the deadline for completing the construction design and execution design and obtaining the final permit for the execution of the road investment, according to the special purpose Road Act: 0.02% of the total gross amount for each day of delay
    • for exceeding the completion deadline: 0.05% of the total contractual amount for each day of delay
    • for exceeding the deadline for repairing faults specified in the Acceptance Certificate: 0.01% of the total gross amount for each day of delay
    • for exceeding the deadline for submitting the schedule: 0.002% of the total gross amount for each day of delay
    • for withdrawing from the contract for reasons attributable to the Contractor: 10% of the total gross amount
  • Contractual penalties paid by the Principal:
    • for withdrawing from the contract for reasons attributable to the Principal: 10% of the total gross amount
  • The Principal reserves the right to claim supplementary compensation which adapts the amount of contractual penalties to the amount of damage actually suffered.

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

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Shareholdership structure as on 20.05.2021

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