The Management Board of Mostostal Warszawa S.A. informs that today the company signed with Medical Investment Trust Sp. z o.o., a contract for “the execution of works under the general contractor for the investment involving the construction of the hotel building with apartments at the intersection of Mestwina and Międzymorze in Jurata with an underground garage with land development and technical infrastructure on the plot with registration number 326 of 0003 precincts Jastarnia".

The parties agreed the deadline for the completion of contract till 6 February 2018. 
The value of the contract amounts to PLN 14.50 million net.

Payment deadline: 30 days from the date of filing the invoice.

Guarantee periods: 60 months for the quality guarantee and guarantee for physical defects in the object of the contract.

The security for the proper performance of subject of the Agreement and claims arising from it is unconditional insurance performance guarantee of 10% of net salary. In the guarantee and warranty period the Contractor shall provide an unconditional and payable on each request bank or insurance guarantee removal of faults and defects after the final acceptance of the subject of the Agreement in the amount of 5% of the net salary.

The Management Board of Mostostal Warszawa S.A. (“Company”) informs that yesterday, the Court of Appeal in Warsaw dismissed the appeal from the decision of the District Court in Warsaw in a case against BZ WBK (“Bank”) and Wrocław Municipality (“Employer”, “Beneficiary”) on determining the absence of right and obligation of the Bank to disburse the amount of PN 30.85 million under the Performance Bond, the beneficiary of which is the Wrocław Municipality on account of improper performance of the contract – contract No. 7/2009/NFM of 22 December 2009 for the construction of the National Forum of Music in Wrocław.  

In consequence of the decision, the Bank may disburse funds from the guarantee in question to the Beneficiary.