Current report no 47 / 2020

Contract 1C.2 Construction of flood banks and reconstruction of the Czarny Kanał and Racza Struga canal – signing of the contract

The Management Board of Budimex S.A. announces that on 21 July 2020 the contract has been concluded between Budimex S.A  and “Polish Waters” National Water Holding [Państwowe Gospodarstwo Wodne] – Regional Water Management Board in Wrocław, ul. C. K. Norwida 34, 50-950 Wroclaw, in the tender procedure titled: Contract 1C.2 Construction of flood banks and reconstruction of the Czarny Kanał and Racza Struga canal.

The information that our bid was selected as the most advantageous in the tender proceedings was published on 23 June 2020 in the current report No 41/2020.

The total value of orders with the same Employer, including the contract referred to above, in the last 12 months amounts to PLN 190,770,225.65 net. 

The highest-valued order is the aforementioned contract.

Terms of the highest-valued contract:

Contract value: PLN 102,097,560.98 net.

Works commencement date: the Employer will notify the Contractor of the Commencement Date at least 4 days before the date, within 180 days of receiving the Letter of Acceptance

Works completion deadline: 800 days

Guarantee period: 365 days

Advance payment: 15% of the Accepted Gross Contract Amount

Payment terms: 56 days from the Employer’s receipt of all documents

Bank performance bond: 9% of the Accepted Gross Contract Amount.

Maximum amount of contractual penalty paid by the Contractor: maximum amount of contractual penalties for delay – 10% of the Accepted Gross Contract Amount

Maximum amount of contractual penalty paid by the Employer: none

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

Total value of contracts signed by and between Budimex and its subsidiary and “Polish Waters” National Water Holding – Regional Water Management Board in Wrocław exceeds the threshold of PLN 151,393 thousand net.