49/2009 - Information on the conclusion of a contract
The Management Board of Trakcja Polska S.A. (the "Company") hereby announces that the Company concluded a contract (“Contract”) with KZA Przedsiębiorstwo Automatyki i Telekomunikacji S.A., with its registered office in Lublin (the “Contracting Party”).
Net Contract value: PLN 37,000,000.00
Gross Contract value: PLN 45,140,000.00
Subject of the Contract:
According to the Contract, the Company shall provide the specialist sectoral services specified in the Contract to the Contracting Party.
Payment terms:
The fee shall be paid against invoices issued by the Company, to its bank account specified in the invoices.
Payments shall be made to the bank account specified by the Company in the invoice within 37 business days of the date on which the contractor presents a correctly issued invoice.
The invoice payment date shall be the date on which the Company’s account is credited.
Liquidated damages:
The Company shall pay the Contracting Party liquidated damages:
1. for exceeding the deadline for completing the works - 0.05 % the gross fee specified in the Contract, for every day of delay;
2. for exceeding the deadlines for the milestones agreed in the contract – 0.05 % of the gross fee specified in the Contract for every day of delay;
3. for exceeding the deadline set for eliminating defects found at the time of acceptance or in the warranty period at an amount of 0.05% of the gross fee specified in the Contract, for every day of delay from the date specified in the Contract for completing the repair of defects;
4. for the Contracting Party’s withdrawal from the Contract for reasons for which the Company is responsible, at the amount of 10% of the gross fee specified in the Contract;
5. for the failure to perform any one of the contractual obligations after prior written one-time demand by the Contracting Party’s representative, at the amount of 0.01% of the gross fee specified in the Contract, for every such shortcoming;
6. the Company shall only pay the Contracting Party the liquidated damages referred to in points 1, 2 and 3 if the Contracting Party is forced to pay such liquidated damages to the Contractor.
The Contracting Party shall pay the Company liquidated damages:
1. for the Company’s withdrawal from the Contract for reasons for which the Contracting Party is responsible, at the amount of 10% of the gross fee specified in the Contract with the exception of cases of the appearance of a significant change in circumstances resulting in the performance of the Main Contract not lying in the public interests and similarly, its termination by the Investor.
The maximum value of the liquidated damages cannot exceed 10 % of the gross fee specified in the Contract. In the event that the liquidated damages do not cover the damage, the Contracting Party reserves the right to file for supplementary compensation up to the level of the damage actually suffered.
The Contracting Party has the right to withdraw from filing for liquidated damages.
The value of the above Contract is greater than 10% of Trakcja Polska S.A.’s equity and therefore constitutes a significant contract, as defined by § 2(1)(44) of the Regulation of the Minister of Finance of 19 February 2009 on current and periodic information submitted by issuers of securities and conditions for acknowledging the information required by the provisions of the law of a non-member state as being equivalent (Journal of Laws No. 23, item 259).
Legal grounds: Article 56(1) of the Act on Public Offering and the Conditions for the Introduction of Financial Instruments into an Organised Trading System and Listed Companies of 29 July 2005 (Journal of Laws No. 184, item 1539, as amended).
Back to list