Construction of office and service buildings and residential and service buildings with an underground garage at the junction of Waszyngtona i Hryniewickiego streets in Gdynia – Waterfront Phase 2 - signature of a contract
The Management Board of Budimex S.A. announces that on 23 March 2021 the contract has been concluded between Budimex S.A. and Vastint Poland Sp. z o.o. on: construction of office and service buildings and residential and service buildings with an underground garage at the junction of Waszyngtona i Hryniewickiego streets in Gdynia – Waterfront Phase 2 .
Contract value: EUR 41,341,176 net (contract value converted at the average exchange rate of the National Bank of Poland of 23.03.2021; EUR 1 = PLN 4.6073)
Works commencement date: 24.03.2021
Works completion date: 23.05.2023
– as regards the construction of the structure, facades and roofs with insulation, foundation/layers under the roads and pavements, flush-mounted systems – 10 years;
– for other works – from 6 months to 5 years
Advance payment: none
Payment terms: payment of the amount due arising from a VAT invoice correctly issued and delivered to the Employer within 21 days
Bank performance bond: EUR 4,000,000 for the implementation period; EUR 2,000,000 for the guarantee period
End-use security: if no bank performance bond is submitted – retention mechanism: for the implementation period – 10%, and for the quality guarantee period – 5% of the gross value of each of the Contractor’s invoices, respectively.
Maximum amount of contractual penalty paid by the Contractor: EUR 4,000,000.
The Ordering Party may seek compensation under general rules if the amount of damage exceeds the amount of the stipulated 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 151,393 thousand net.