Current report no 49 / 2011

Construction of a new home for the Silesian Museum in Katowice - a new contract of Budimex SA

The Management Board of Budimex SA reports that on 7 June 2011 the consortium of Budimex SA (leader, 95%) and Ferrovial Agroman SA (partner, 5%) signed a contract with the Silesian Museum in Katowice on "Construction of a new home for the Silesian Museum in Katowice".

• Net contract value: PLN 168 974 805.05
• Commencement date: no later than 30 days after concluding the contract
• Deadline: 33 months from the date of concluding the contract
• Guarantee period: 36 months
• Financial terms and conditions:
• Payment: 30 days after the Contracting Authority has received a VAT invoice
• Bank guarantee of successful execution – 10% of the gross contract value
• Contractual penalties paid by the Contractor:
• For delay in the execution of all works - 0.10% of the gross contract value for each day of delay - not more than 30% in this respect
• For delays in remedying defects found in the course of the acceptance or during the warranty and guarantee period – 0.10% of the gross contract value for each day of the delay, counting from the day specified for remedying the defects; however, if the delay in remedying the defects by the specified deadline surpasses 5 days, the contractual penalty is to be increased by 50% counting from the expiry of the specified deadline
• If the Contracting Authority renounces the contract for reasons attributable to the Contractor – 30% of the gross contract price
• Penalties paid by the Contracting Authority:
• If the Contractor renounces the contract for reasons attributable to the Contracting Authority – 30% of the gross contract price
• The Contracting Authority is entitled to claim compensation in the amount of damage or loss actually suffered

The contract value exceeds 10% of the equity of Budimex S.A.