Current report no 59 / 2019

Date: September 6, 2019 1:57 PM

Construction of residential buildings in multi-family dwelling units, at ul. Słonimskiego / Pamiętajcie o Ogrodach in Warsaw - Stage I of the Central Garden Investment – signature of a contract

The Management Board of Budimex S.A. announces that on 6 September 2019 a contract for the construction of residential buildings was concluded between Budimex S.A. and ASBUD Mokotów Sp. z o.o. with its registered office in Warsaw.


Contract value: PLN 158,386,592.00 net, including PLN 1,127,429.00 net for optional works.


The total value of orders with the same Ordering Party in the last 12 months amounted to PLN 159,031,333.85 net. The highest-value order is the aforementioned contract.


Contract value: PLN 158,386,592.00 net


Works commencement date: 16 September 2019


Works completion date: 19 July 2021


Statutory warranty and guarantee period:


- for the reinforced concrete structure – 15 years

- roof (covering), insulation of the overground and underground part - 10 years

- for other works - 6 years,


Advance payment: none


Payment terms: 30 days from the day of delivery of a correctly issued VAT invoice to the Ordering Party by the Contractor


Bank performance bond: Security deposit – 5% of the gross lump-sum remuneration


Maximum amount of contractual penalty paid by the Contractor: 20% of the gross lump-sum remuneration


Maximum amount of contractual penalty paid by the Ordering Party: 10% of the lump-sum remuneration


Contractual penalties payable by the Contractor do not differ from the market standards.


Payment of the contractual penalty does not preclude the Ordering Party’s right to claim damages in excess of the contractual penalty.


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


The value of the contract exceeds the threshold of PLN 147,743 thousand net.


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Shareholdership structure as on 20.05.2021

GPWKNFRespect IndexSEGWIG Budownictwo