Current report no 70 / 2010

Current report no 70 / 2010 - 30 September 2010 / 00:00

Construction of the Wielkopolskie Centrum Zaawansowanych Technologii (the Wielkopolskie Centre for Advanced Technologies) – new contract of Budimex SA

The Management Board of Budimex SA reports that on 30 September 2010 the consortium of Budimex SA (the leader) and Ferrovial Agroman SA concluded a contract with the Adam Mickiewicz University in Poznań for “Construction of the Centre for Advanced Technologies, building B, C, D, Technical Gases Storage Room, Waste Storage Room”.

  • Net contract value: PLN 64,170,331.44 net
  • Commencement date: no later than 20 days from the date of concluding the contract
  • Deadline: 31 December 2011
  • Guarantee period: 36 months
  • Financial conditions:
    • Payment: 30 days after the Contracting Authority has received a VAT invoice
    • Bank guarantee of successful completion – 5% of the gross contract amount
  • Contractual penalties paid by the Contractor:
    • For delay in executing the Subject of the Contract in the amount of 0.5% of the gross remuneration for each day of delay
    • For withdrawing from the contract by any party due to reasons independent of the Contracting Authority – 10% of the gross contract value
    • For delay in remedying defects found in the course of the acceptance or during the warranty or guarantee period – 0.5% of the gross remuneration for each day of the delay
    • 20% of the amount the Contracting Authority will have to pay directly for the benefit of the subcontractor in the event that the general contractor does not pay the remuneration
  • The Parties reserve the right to supplementary compensation, which carries the amount of contractual penalties equal to the amount of damage actually suffered.

The contract value exceeds 10% of the equity of Budimex S.A.