Report 11/2021 Agreement with Vantage Development S.A. for the Construction of a Multi-Family Residential Building in Łódź
The Management Board of Mostostal Warszawa S.A. ("Company") informs that on 5 May 2021, the Company concluded with Vantage Development S.A. ("Employer") a contract for the implementation of the task entitled "A multi-family residential building with commercial premises and an underground garage, along with the land development of the property and necessary construction equipment, on plots of land number 3/14, 4/1, 4/23, 9/40, precinct W-24 at Tuwima 64 in Łódź ".
The main provisions of the contract:
- Contract value: PLN 48.34 million net.
- Completion date: 77 weeks.
- Payment term: 30 days from the date of receipt of the invoice by the Employer.
- The maximum warranty period for the building structure is 20 years.
- Performance bond: 10% of the net remuneration in the form of a bank or insurance guarantee.