Current report no 77 / 2011

Current report no 77 / 2011 - 2 September 2011 / 00:00

Project and construction of a city stadium in Lublin - a new contract for Budimex SA

The Management Board of Budimex SA announced that on 2 September 2011 it signed a contract with the City Office of Lublin on the development of design documentation and construction of the city stadium in Lublin along with the land development of the adjacent area, installations and connections, located in the vicinity of ul. Krochmalna, where the settlings of the former sugar plant in Lublin once were, under the project “Construction of the city stadium in Lublin together with the land development of the adjacent area” financed by the European Regional Development Fund under the Regional Operational Programme of the Lublin Province 2007 – 2013.

  • The contract is worth PLN 110,738,000.00 net
  • Commencement date: immediately upon concluding the contract
  • Deadline: 30 September 2013
  • Guarantee period: 60 months
  • Financial terms and conditions:
    • Payment: 21 days from the date of submitting the invoice to the Contracting Authority
    • Good performance bank guarantee: 10% of the gross contract value
  • Penalties paid by the Contractor:
    • For delay in realisation of the subject of the contract in relation to the deadlines specified in the schedule of work and expenditure, drawn up for the whole task, a penalty in the amount of 0.04% of the gross remuneration for each day of delay
    • For delay in removal of defects revealed during the guarantee period a penalty in the amount of 0.03% of the gross remuneration for each day of delay
    • For introducing a subcontractor to the construction, site and charging it with execution of work included in this contract with no agreement and knowledge of the Contracting Authority a penalty in the amount of 10% of the gross remuneration
    • For withdrawing from the contract on the stage of development of designs documentation for reasons attributable to the Contractor 4% of the gross remuneration
    • For withdrawing from the contract for reasons attributable to the Contractor – 10% of the gross remuneration
  • Penalties paid by the Contracting Authority:
    • For withdrawing from the contract on the stage of development of designs documentation for reasons attributable to the Contracting Authority 4% of the gross remuneration
    • For withdrawing from the contract for reasons attributable to the Contracting Authority – 10% of the gross remuneration
  • The Parties reserve the right to claim compensation on general terms, defined by the provisions of the Civil Code, in the amount of damage or loss really suffered

The value of the offer exceeds 10% of the equity of Budimex SA.