Dátum: 22. apríla 2010
New Contract of Budimex S.A – Arboretum housing complex in Łódź
The Management Board of Budimex S.A. informs that a contract on construction of the Arboretum housing complex in Łódź has been concluded with a special purpose company Kraków Development II Sp. z o.o. owned by Hines Polska Sp. z o.o. with its registered office in Warsaw on 21 April 2010.
- Contract value: PLN 55,390,000 net
- Commencement date: on the date of concluding the contract
- Deadline: 22 months from the date of concluding the contract
- Guarantee period: 36 months form obtaining occupancy permit date
- Financial conditions:
- Payment: 30 days after the Contracting Authority has received a correctly issued VAT invoice
- Bank guarantee of successful execution: 5% of the net contract value
- Maximum penalties paid by the Contractor: 8% of the net contract value
- The Investor reserves the right to supplementary compensation in excess of contractual penalties up to the amount of damage actually suffered.
- This is a consecutive contract concluded with Hines Polska Sp. z o.o. through special purpose companies of this investor within the last 12 months. Its total value is PLN 103,066,086.1 net.
The total value of the contracts exceeds 10% of the equity of Budimex S.A.