The Management Board of Budimex SA announces that on 3 July 2017 it was informed by the General Directorate for National Roads and Motorways of the fact that the offer of Budimex SA was chosen as the most advantageous tender for the design and construction of the S-61 expressway Ostrów Mazowiecka - Szczuczyn, section: Stawiski junction (without a node) - the beginning of Szczuczyna bypass, on the length of approximately 18.002 km [S61]. Budimex SA informed that Budimex SA offer in this tender was the highest, in report No. 45/2017 of June 19, 2017. br> Contract value: PLN 278.157.883 net br> Date of commencement of works: date signing the contract br> Works completion time: 31 months, no winter periods are counted until the work is carried out, winter periods are counted towards the design period br> Guarantee period: 120 months br> Advance payment: 5-10% Gross Contract Amounts br> Payment terms: within 30 days from the date of receipt by the Employer of a properly issued invoice along with the Interim Payment Certificate and acceptance protocols. br> Bank guarantee of good performance: 10% of Gross Contract Amount br> Contractual penalties paid by the Contractor: br> - for exceeding the Time for Completion of Works or 0.0.02% of the Accepted Contract Amount for each day of delay calculated by first two weeks br> - for exceeding the Time for Completion of Works or section 0.03% of the Accepted Contract Amount for each day of delay counted in the third and fourth week br> - for exceeding the Time for Completion of Works or 0.05% Accepted Contractual Amount for each day of delay calculated from the fifth week br> - 0.02% ZKK for each day of delay for non-performance of the Required Minimum Quantity of Performance calculated on each condition of the minimum performance br> - 15% of gross remuneration for withdrawal or termination of the contract for reasons attributable to the Contractor br> - for no change in the date of payment in the subcontracting contract 25 000.00 for each day of delay br> - for the performance of works by a contractor other than the one indicated in the offer PLN 25,000.00 for each case br> Contractual penalties paid by the Employer: br> - 0.1% of gross remuneration in the transfer of construction site for each day of delay br> - for withdrawal from the Agreement due to reasons attributable to the Ordering Party in the amount of 15% of gross remuneration br> Maximum value of penalties: 20% of gross remuneration br> The Employer has the rightclaiming compensation under general rules, if the amount of damage exceeds the agreed contractual penalty br> The value of the offer exceeds the threshold of PLN 111 446 thousand. zł. Br>
Source: company website, investor relations, current and periodic reports.