22.08.2012
Subcontracting contract by the subsidiary ZRUG Zabrze SA
Board of Stalprofil SA informs that on 22.08.2012 the subsidiary ZRUG Zabrze SA in Zabrze (Employer), entered into a subcontracting agreement with INSTALGAZ Andrzej Szulc based in Opalenica (Subcontractor), which is the subject of the contract for construction of the gas pipeline DN 700 Szczecin-Gdańsk: Phase III Koszalin-Słupsk and Phase IV Słupsk-Wiczlino.
The total length of the pipeline commissioned by ZRUG Zabrze SA Contractors to perform is 57.85 km, including: the Phase III pipeline for a distance of 28.71 km and the Phase IV pipeline for a distance of 29.14 km.
The term of the agreement is specified: for stage III it is 22.03.2013r, and the final acceptance date falls on 28.09.2013.
Assigned for the execution of works in accordance with the terms of the agreement subcontractor receives fixed remuneration of EUR 51,832 thousand PLN net (contract value), including: the implementation of Phase III 26,418 thousand PLN net, for the implementation of Phase IV 25,414 thousand PLN net.
The agreement applies to outsource a part of the pipeline DN 700 Szczecin-Gdańsk with a total length of 204 km, which is implemented by the consortium of ZRUG Zabrze SA (consortium leader) based on an agreement with Operator Gazociągów Przesyłowych GAZ-SYSTEM SA based in Warsaw, which Stalprofil SA informed in the current report 13/2012 of 10.05.2012.
Terms of the contract are similar to those commonly used for this type of agreement. The agreement contained the following provisions as the penalties:
1. The Purchaser shall be entitled to demand payment of the following penalties:
a) for delay in reaching the final acceptance by the deadline
- During the first four weeks of delay - 0.05% of gross payment for each commenced day of delay;
- In the case of delay exceeding four weeks - 0.1% of gross payment for each commenced day of delay;
b) a delay in the removal of the defects found during the acceptance part of Phase III, respectively, or the final acceptance or disclosed during the warranty period or warranty of quality - of 0.01% of gross salary for each commenced day of delay from the deadline set by the Contracting Authority to remove defects;
2. In case of termination of the Agreement for reasons attributable to Subcontractor, the Purchaser,shall be entitled to demand that the Subcontractor pays a penalty of 10% of gross payment.
The total amount of penalties mentioned above is restricted to 25% of the gross payment. The Purchaser shall have the right to seek additional compensation if the damage will exceed the stipulated penalties.
Subcontractors shall have the right to demand from the Employer penalty for withdrawing from the contract for reasons attributable to the Purchaser in the amount of 10% of gross payment.
Company ZRUG Zabrze SA is a subsidiary of the Stalprofil SA Group (Stalprofil SA holds 88.57% stake in the company).
The agreement concluded with INSTALGAZ Andrzej Szulc meets the criterion of a significant agreement because its value exceeds 10% of the equity of the issuer.
The total length of the pipeline commissioned by ZRUG Zabrze SA Contractors to perform is 57.85 km, including: the Phase III pipeline for a distance of 28.71 km and the Phase IV pipeline for a distance of 29.14 km.
The term of the agreement is specified: for stage III it is 22.03.2013r, and the final acceptance date falls on 28.09.2013.
Assigned for the execution of works in accordance with the terms of the agreement subcontractor receives fixed remuneration of EUR 51,832 thousand PLN net (contract value), including: the implementation of Phase III 26,418 thousand PLN net, for the implementation of Phase IV 25,414 thousand PLN net.
The agreement applies to outsource a part of the pipeline DN 700 Szczecin-Gdańsk with a total length of 204 km, which is implemented by the consortium of ZRUG Zabrze SA (consortium leader) based on an agreement with Operator Gazociągów Przesyłowych GAZ-SYSTEM SA based in Warsaw, which Stalprofil SA informed in the current report 13/2012 of 10.05.2012.
Terms of the contract are similar to those commonly used for this type of agreement. The agreement contained the following provisions as the penalties:
1. The Purchaser shall be entitled to demand payment of the following penalties:
a) for delay in reaching the final acceptance by the deadline
- During the first four weeks of delay - 0.05% of gross payment for each commenced day of delay;
- In the case of delay exceeding four weeks - 0.1% of gross payment for each commenced day of delay;
b) a delay in the removal of the defects found during the acceptance part of Phase III, respectively, or the final acceptance or disclosed during the warranty period or warranty of quality - of 0.01% of gross salary for each commenced day of delay from the deadline set by the Contracting Authority to remove defects;
2. In case of termination of the Agreement for reasons attributable to Subcontractor, the Purchaser,shall be entitled to demand that the Subcontractor pays a penalty of 10% of gross payment.
The total amount of penalties mentioned above is restricted to 25% of the gross payment. The Purchaser shall have the right to seek additional compensation if the damage will exceed the stipulated penalties.
Subcontractors shall have the right to demand from the Employer penalty for withdrawing from the contract for reasons attributable to the Purchaser in the amount of 10% of gross payment.
Company ZRUG Zabrze SA is a subsidiary of the Stalprofil SA Group (Stalprofil SA holds 88.57% stake in the company).
The agreement concluded with INSTALGAZ Andrzej Szulc meets the criterion of a significant agreement because its value exceeds 10% of the equity of the issuer.