Current report no 28 / 2011

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

The Management Board of Budimex SA reports that on 8 April 2011 it received a notification from Adam Mickiewicz University in Poznań on the selection of the bid by Budimex as the most favourable bid in the proceedings concerning the public procurement procedure carried out by an unlimited tender procedure for construction of the Wielkopolskie Centre of Advanced Technologies: building A, A-1 Greenhouse, A-2 Animal House together with associated technical infrastructure.

• Net contract value: PLN 50,173,433.48
• Commencement date: after commissioning the construction site, which is expected to happen no longer than within 20 days from the day of signing the contract.
• Deadline: 28 June 2013
• Guarantee period: 36 months
• Financial terms and conditions:
  • Payment: 30 days from the Ordering Authority receiving a valid invoice.
  • Bank guarantee of successful execution: 5% of the gross contractual amount.
• Penalties paid by the Contractor:
  • For delay in executing the Subject of the Contract, in the amount of 0.5% of the gross remuneration for each day of delay;
  • For delay in remedying defects and faults, in the amount of 0.5% of the gross remuneration for each day of delay;
  • In case the Ordering Authority is compelled to make payments to the subcontractor, 20% of the amount transferred to the subcontractor;
  • For withdrawing from the contract by any party due to reasons independent of the Contracting Authority - 10% of the gross remuneration.
• The Parties reserve the right to supplementary compensation, which carries the amount of contractual penalties equal to the amount of damage actually suffered.
• In addition, the Management Board of Budimex SA announced that on 8 April 2011, a contract of net value PLN 19,977,581.77 has been concluded with the same Ordering Authority.

The total value of the signed contract and the bid which proved to be the most favourable, is the net value of PLN 70,171,015.25. This amount exceeds 10% of the equity of Budimex SA.