18.04.2013
Contracts between the subsidiary ZRUG Zabrze SA and Eurovia Polska SA
On 18 April 2013 the Board of Stalprofil SA was informed about conclusion by the Company\'s subsidiary ZRUG Zabrze SA (Subcontractor) of two contracts with Eurovia Polska SA based in Bielany Wrocławskie (Contractor) for a total value of 26,400,000.00 PLN (net), including:
1. contract for construction works involving reconstruction of the heating network DN 600 - G.2, DN 400, 600, 700 - G2.4, SFW Energia as part of the task "DROGA TRASA ŚREDNICOWA Katowice-Gliwice, część "Zachód" - odcinek G2 w Gliwicach"" with a value of 21,800,000.00 PLN and implementation by 31.08.2013,
2. contract for construction works involving reconstruction of the gas network GSG low and medium pressure, high pressure GSG WOSW and gas network of GAS SYSTEM, within a task "DROGA TRASA ŚREDNICOWA Katowice - Gliwice, część "Zachód" - odcinek G2 w Gliwicach"" of value of 4,600,000.00 PLN and implementation by 14.11.2014.
The first of two contracts with Eurovia Polska SA the subsidiary ZRUG Zabrze SA signed as the leader of the consortium (Subcontractor), composed of ZRUG Zabrze SA Zabrze (consortium leader), Kelvin TERNO Oddział Kelvin Sp. z o.o. based in Bielsko-Biała (consortium partner) and it entered into the second contract individually.
Terms of the contracts are similar to those prevailing on the market.
The contracts contain the following provisions on penalties:
Liability for failure to perform or improper performance of contractual obligations by the parties shall be borne by the payment of liquidated damages of the following titles and in the following amounts:
1) Subcontractor shall pay the Contractor a penalty:
a) for the late delivery specified in the contract of the agreement and/or the elements specified in the schedule of works at:
- 0.2% of gross contractual remuneration specified in the contract for the first 3 calendar days of delay, calculated for each day of delay
- 0.4% of gross contractual remuneration specified in the contract for each day of delay after the period referred to above,
b) for delay in removal of defects found upon receipt or within the warranty period or warranty for defects in the amount of 0.2% of gross contractual remuneration specified in the contract for each day of delay, calculated from the date appointed for the removal of defects,
c) for withdrawing from the contract for reasons beyond the control of the Contractor in the amount of 20% gross contractual remuneration specified in the contract,
d) for causing a break in the execution of the work for reasons attributable to Contractors, for more than three days - in the amount of 0.2% of gross contractual remuneration for each day of the break,
e) for the introduction of further construction subcontractor or any other entity without the prior, explicit and written consent of the Contractor - 30 000 PLN for each detected case.
Contractor shall pay a penalty for withdrawing from the contract for reasons attributable to the Contractor only - at 10% of the Subcontractor\'s payment.
ZRUG Zabrze SA is a subsidiary of Stalprofil SA Capital Group (Stalprofil SA holds 94.98% stake in the company).
1. contract for construction works involving reconstruction of the heating network DN 600 - G.2, DN 400, 600, 700 - G2.4, SFW Energia as part of the task "DROGA TRASA ŚREDNICOWA Katowice-Gliwice, część "Zachód" - odcinek G2 w Gliwicach"" with a value of 21,800,000.00 PLN and implementation by 31.08.2013,
2. contract for construction works involving reconstruction of the gas network GSG low and medium pressure, high pressure GSG WOSW and gas network of GAS SYSTEM, within a task "DROGA TRASA ŚREDNICOWA Katowice - Gliwice, część "Zachód" - odcinek G2 w Gliwicach"" of value of 4,600,000.00 PLN and implementation by 14.11.2014.
The first of two contracts with Eurovia Polska SA the subsidiary ZRUG Zabrze SA signed as the leader of the consortium (Subcontractor), composed of ZRUG Zabrze SA Zabrze (consortium leader), Kelvin TERNO Oddział Kelvin Sp. z o.o. based in Bielsko-Biała (consortium partner) and it entered into the second contract individually.
Terms of the contracts are similar to those prevailing on the market.
The contracts contain the following provisions on penalties:
Liability for failure to perform or improper performance of contractual obligations by the parties shall be borne by the payment of liquidated damages of the following titles and in the following amounts:
1) Subcontractor shall pay the Contractor a penalty:
a) for the late delivery specified in the contract of the agreement and/or the elements specified in the schedule of works at:
- 0.2% of gross contractual remuneration specified in the contract for the first 3 calendar days of delay, calculated for each day of delay
- 0.4% of gross contractual remuneration specified in the contract for each day of delay after the period referred to above,
b) for delay in removal of defects found upon receipt or within the warranty period or warranty for defects in the amount of 0.2% of gross contractual remuneration specified in the contract for each day of delay, calculated from the date appointed for the removal of defects,
c) for withdrawing from the contract for reasons beyond the control of the Contractor in the amount of 20% gross contractual remuneration specified in the contract,
d) for causing a break in the execution of the work for reasons attributable to Contractors, for more than three days - in the amount of 0.2% of gross contractual remuneration for each day of the break,
e) for the introduction of further construction subcontractor or any other entity without the prior, explicit and written consent of the Contractor - 30 000 PLN for each detected case.
Contractor shall pay a penalty for withdrawing from the contract for reasons attributable to the Contractor only - at 10% of the Subcontractor\'s payment.
ZRUG Zabrze SA is a subsidiary of Stalprofil SA Capital Group (Stalprofil SA holds 94.98% stake in the company).