The Management Board of Budimex S.A. announces that on 23 June 2023 the General Directorate for National Roads and Motorways, Branch in Olsztyn, selected the bid of Budimex S.A as the most advantageous one in the tendering procedure regarding: Extension of national road No 65 on the Gąski – Ełk section.

The information that our bid was rated the highest in the tender procedure was published on 15 March 2023 in the current report no. 14/2023.

Bid value: PLN 186,241,087.59 net

Works commencement date: from the date of signing the contract

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

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

Guarantee period for the main works: 10 years

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

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

Maximum amount of contractual penalty paid by the Contractor: 20% of the Accepted Net 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 bid value exceeds the threshold of PLN 172,381 thousand net.