Current report no 78 / 2011

Current report no 78 / 2011 - 6 September 2011 / 00:00

Construction of a Shopping Centre FACTORY Annopol - a new contract for Budimex

The Management Board of Budimex SA announces that on 5 September 2011 it signed an agreement with Neinver Annopol Sp. z o.o. with its registered office in Warszawa on the construction of a Shopping Centre FACTORY Annopol.

  • The contract is worth PLN 61,600,000.00 net
  • Work commencement date: after the notification by the Investor of the commencement date
  • Deadline: 354 days from the commencement date
  • Guarantee periods:
    • 3 years – for mechanical equipment (except for consumables and maintenance)
    • 5 years – basic guarantee for the works
    • 10 years – for the roof, steel structures and insulations
    • 20 years – for reinforced concrete structures
  • Financial terms and conditions:
    • Advance payment: 5% of the net contract value
    • Payment: 30 days from the date of delivering the invoice to the Investor
    • Deposit: 10% of the net contract value
    • Bank guarantee of successful execution: 10% of the net contract value
  • Maximum penalties: 10% of the net contract value
  • The Investor is entitled to claim compensation according to the general rules, if the value of damage exceeds the value of the penalties

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