Current report no 33 / 2018

Construction of the Polish History Museum in Warsaw – signature of a contract

The Management Board of Budimex SA announces that on 30 May 2018 the company concluded a contract with the Polish History Museum for the construction of the Polish History Museum in Warsaw. Budimex informed that its bid had been selected as the most advantageous one in current report 27/2018 of 15 May 2018.

Contract value: PLN 459,739,837.40 net.

Works commencement date: upon the hand-over of construction site.

Works completion date: 990 days from the day following the date of signing the contract

Guarantee period: 60 months

The extended period of liability for defects with regard to the following parts of the facility shall be as follows:

- structural works – 20 years

- building foundation waterproofing – 20 years

- roof – 15 years

- facades of the entire building – 15 years

Advance payment: none

Payment terms: 30 days from the day of delivery of a correct invoice to the Employer by the Contractor

Insurance performance bond: 10% of the gross remuneration 

Maximum amount of contractual penalty paid by the Contractor: 20% of the net remuneration

The ordering party reserves the right to seek damages under general applicable rules if the amount of loss sustained exceeds the amount of the stipulated penalty.

Contractual penalties payable by the Contractor do not deviate from market standards

Penalties payable by the Employer do not deviate from market standards

Other terms and conditions of the contract do not differ from the market standards.

The contract value exceeds the threshold of PLN 127,386 thousand net.