Report No. 45 Conclusion of General Agreement on Insurance Guarantees
The Management Board of Mostostal Warszawa S.A. (“Company”) having received the relevant documents today, informs that the Company signed a general agreement with UNIQA Towarzystwo Ubezpieczeń Spółka Akcyjna on granting insurance guarantees.
The subject matter is provision, by UNIQA TU S.A., as part of the agreed renewable maximum limit of the following guarantees: payment of bid bond, performance bond, removal of defects, return of advance payment and performance bond, removal of defects.
The maximum limit amounts to PLN 10 million and is binding in the period from 18 August 2017 to 17 August 2018.
The agreement is concluded for an unlimited period of time.
The Parties agree to secure the reverse claims of UNIQA TU S.A. in the form of blank promissory note in 3 counterparts issued by the Obligor along with a declaration to the note.
The remaining terms of the agreement do not differ from commonly applied terms for agreements of this type.