Budimex.pl

Current report no 63 / 2020

Date: November 3, 2020 5:29 PM

Construction of multi-family residential buildings with retail premises at Orlińskiego street in Krakow — signing of the contract

The Management Board of Budimex S.A. announces conclusion of a contract between Budimex S.A. and Budimex Nieruchomości Sp. z o.o. for: “Construction of multi-family residential buildings A and B with retail premises, including underground garage, above-ground parking lots, road and technical infrastructure, earthworks, entrance from Orlińskiego street, including development of plot No 299/45, 299/46 and 299/3”.

 

Contract value:  PLN 27,998,000 net

 

Since 03.08.2020 (the date of the last current report), it is the third contract concluded between the Companies and the highest-valued contract was signed for: “Comprehensive construction of a multi-family residential complex with retail premises on a ground floor, underground garage, garage entrance and site development, located in Warsaw, at ul. Mińska 69 — third stage ‘C’.”

 

Terms of the highest-valued contract:

 

Contract value:  PLN 73,980,000.00 net

 

Works commencement date:  17 August 2020

 

Works completion date: 31 May 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 net contractual remuneration

 

Maximum amount of contractual penalty paid by the Employer:  10% of net contractual 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 and its subsidiaries and Budimex Nieruchomości Sp. z o.o. (including the contract in question) exceeds the threshold of PLN 151,393 thousand net.

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Shareholdership structure as on 18.06.2020

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