Budimex.pl

Current report no 51 / 2020

Date: August 3, 2020 11:54 AM

Construction of a multi-family building with services on the ground floor, an underground garage, roads, fencing, technical infrastructure and street furniture situated on real property located in Warsaw, at ul. Bokserska – Stage I-signature of a contract

The Management Board of Budimex S.A. announces that a contract has been concluded between Budimex S.A. and Budimex Nieruchomości Sp. z o.o. for “Construction of a multi-family building with services on the ground floor, an underground garage, roads, fencing, technical infrastructure and street furniture situated on real property located in Warsaw, at ul. Bokserska – Stage I”. 

 

Contract value: PLN 69,400,000.00 net

 

It has been the fourth contract concluded between the Companies since 20 December 2019 (date of the last current report), and the contract with the highest value is the one regarding “Construction of a multi-family building with services on the ground floor, an underground garage, roads, fencing, technical infrastructure and street furniture situated on real property located in Warsaw, at ul. Bokserska – Stage I”.

 

Terms of the highest value contract:

 

Contract value: PLN 69,400,000.00 net

 

Works commencement date: 12 August 2020

 

Works completion date: 15 April 2022

 

Period of guarantee and warranty:

– for reinforced concrete structure, roof covering, waterproof barrier in the underground and overground part, including expansion joints — 10 years,

– for other works — 66 months,

 

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: Guarantee deposit equivalent to 5% of the net works value

 

Maximum amount of contractual penalty paid by the Contractor: 10% of the net contractual remuneration

 

Maximum amount of contractual penalty paid by the Ordering Party: 10% of the net contracted remuneration.

 

The parties reserve the right to claim supplemental damages on general terms and conditions if the stipulated penalty does not cover the amount of loss incurred.

 

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

 

The total value of contracts concluded between Budimex S.A. and its subsidiaries and Budimex Nieruchomości Sp. z o. o., including the contract value, exceeds the threshold of PLN 151,393 thousand net.

 

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Shareholdership structure as on 17.05.2019

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