The Management Board of Budimex SA announces that on 2 September it became aware of the signing of a contract on 1 September 2014 with IKEA Property Poland Sp. z o.o., registered office in Warsaw, to perform general construction works connected with building an IKEA store in Bydgoszcz and to coordinate the construction works performed by the Contractors of the Contracting Authority and the Subcontractors Designated by the Contracting Authority, Package C001.

  • Contract value: PLN 34,609,112.00 net
  • Commencement date: once the construction site has been handed over
  • Work completion date: 15.05.2015
  • Guarantee period: 60 months
  • Financial terms and conditions:
    • Advance payment: none
    • Payment: 30 days after the Contracting Authority has received an invoice
    • Performance bond: 10% of the net remuneration
  • Maximum penalties: cannot exceed 10% of the gross contract value
  • Reserving a contractual penalty does not exclude the Contracting Authority’s right to seek compensation in excess of the contractual penalty in line with the general provisions of law.

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