Current report no 70/2023

Current report no 70/2023 - 8 December 2023 / 11:57

Extension of national road No 65 on the Gąski - Ełk section - signature of a contract

The Management Board of Budimex S.A. announces that on 8 December 2023 a contract was concluded between the General Directorate for National Roads and Motorways Branch in Olsztyn and Budimex SA for: “Extension of national road No 65 on the Gąski – Ełk section”.

The information that our bid had been ranked the highest and selected as the most advantageous one was published on 15 March 2023 in current report No 14/2023 and on 23 June 2023 in current report No 44/2023.

Contract value: PLN 186,241,087,590 net

Works commencement date: from the date of signing the contract

Works completion date: 18 months from the Commencement Date; winter periods are excluded

A winter period lasts from 16 December to 15 March and is counted as three months.

Guarantee period for the main works: 10 years

Statutory warranty period: 60 months from the date indicated in the Work Acceptance Certificate

Advance payment: maximum 10% of the gross Accepted Contract Amount

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: 10% of the gross Accepted Contract Amount

Maximum amount of contractual penalty paid by the Contractor: 20% of the net Accepted Contract Amount

The Ordering Party may seek compensation under general rules if the amount of loss sustained exceeds the amount of the stipulated contractual 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 172,381 thousand net.