Current report no 5 / 2013

Current report no 5 / 2013 - 1 February 2013 / 00:00

Continuation of the construction of the A4 Motorway – new contract for Budimex SA

The Management Board of Budimex SA reports that on 1 February 2013 a contract was concluded with the General Directorate for Roads and Motorways, Rzeszów Branch, for the continuation of the construction of the A4 motorway section between the Rzeszów Zachód interchange and the Rzeszów Centralny interchange.
Contract value: PLN 149,569,172.93 net
Commencement date: no later than 28 days from the date of signing the contract.
Deadline: no more than 14 months from the date of signing the contract. The term provided for the performance of the contract includes the winter periods.
Guarantee period: 10 years.
Financial terms and conditions:
Terms of payment: 49 days from the delivery of the invoice to the Contracting Authority.
Bank performance bond: 10% of the gross contract value
Maximum penalties payable by the Contractor: 20% of the gross contract value.
Penalties payable by the Contracting Authority: 15% of the gross contract value for withdrawal from the contract for reasons attributable to the Contracting Authority.
The Contracting Authority reserves the right to supplementary compensation which adapts the amount of contractual penalties to the amount of damage actually suffered and lost profits.
The value of the contract exceeds 10% of the equity of Budimex S.A.