1. CPV code describing the subject-matter of the contract: 66.00.00-0 Financial and insurance services.
2. The subject-matter of the contract is a service: financing the Municipality’s liabilities by assuming a debt of PLN 30651797,98 (in words: thirty million six hundred fifty-one thousand seven hundred and ninety-seven zlotys, 98/100) (Article 518(1)(3) of the Civil Code).
3.The contracting authority envisages the mobilisation of the entire amount by paying off the outstanding part of the debts contracted by the Municipality in accordance with Resolution No VII/44/2015 of the City Council in Kęch of 29 April 2015 on the acceptance of a commitment (constituting Annex No 6 to the ToR) for an amount of PLN 30651797,98 on 31 August 2015.
4. The contracting authority declares that all claims referred to in paragraph 1. 3 are undisputed and fully owed to the Creditors referred to in Annex 1 to Annex 5 to this ToR.
5. The repayment of the commitment will be made in 60 quarterly instalments payable between 31.3.2016 and 31.12.2030, according to the following schedule (in the event of a reduction in the amount of assigned claims, the schedule will be adjusted by a reduction in subsequent instalments starting with the last one):
Data Amount [PLN]
1 2016-03-31 51 797,98
2 2016-06-30 200 000
3 2016-09-30 200 000
4 2016-12-31 200 000
5 2017-03-31 500 000
6 2017-06-30 500 000
7 2017-09-30 500 000
8 2017-12-31 500 000
9 2018-03-31 25 000
10 2018-06-30 25 000
11 2018-09-30 25 000
12 2018-12-31 25 000
13 2019-03-31 25 000
14 2019-06-30 25 000
15 2019-09-30 25 000
16 2019-12-31 25 000
17 2020-03-31 25 000
18 2020-06-30 25 000
19 2020-09-30 25 000
20 2020-12-31 25 000
21 2021-03-31 25 000
22 2021-06-30 25 000
23 2021-09-30 25 000
24 2021-12-31 25 000
25 2022-03-31 700 000
26 2022-06-30 700 000
27 2022-09-30 700 000
28 2022-12-31 700 000
29 2023-03-31 700 000
30 2023-06-30 700 000
31 2023-09-30 700 000
32 2023-12-31 700 000
33 2024-03-31 700 000
34 2024-06-30 700 000
35 2024-09-30 700 000
36 2024-12-31 700 000
37 2025-03-31 800 000
38 2025-06-30 800 000
39 2025-09-30 800 000
40 2025-12-31 800 000
41 2026-03-31 800 000
42 2026-06-30 800 000
43 2026-09-30 800 000
44 2026-12-31 800 000
45 2027-03-31 800 000
46 2027-06-30 800 000
47 2027-09-30 800 000
48 2027-12-31 800 000
49 2028-03-31 800 000
50 2028-06-30 800 000
51 2028-09-30 800 000
52 2028-12-31 800 000
53 2029-03-31 800 000
54 2029-06-30 800 000
55 2029-09-30 800 000
56 2029-12-31 800 000
57 2030-03-31 800 000
58 2030-06-30 800 000
59 2030-09-30 800 000
60 2030-12-31 800 000
6. The Contractor shall pay the obligations indicated by the Contracting Authority in the total amount of PLN 30651797,98 and becomes its creditor, in accordance with Article 518 §1(3) of the Civil Code. Repayment of the Contracting Authority’s obligations will be preceded by the conclusion of a contract with the Contractor, in which the parties will specify in detail how the obligations assumed will be repaid.
7. Funding duration:from 31.8.2015-31.12.2030
8. Security of claims: blank promissory note accompanied by a promissory note declaration. The contracting authority does not allow other forms of security for claims.
9. Commission: The contracting authority shall pay the Contractor a non-refundable commission payable on a one-off basis within 21 days of the date of conclusion of the contract in question. The amount of the commission may not exceed 0.2 % of the amount of the Municipality’s prepayments by the Contractor.
10. Interest rate for the duration of the contract:
(1) On the amount of principal receivables: determined on the basis of the WIBOR 3M base rate plus a fixed margin. The base rate will be set on a quarterly basis, in accordance with the WIBOR 3M quotation 2 working days before the start of the new interest period. Any change in the interest rate resulting from a change in the WIBOR 3M rate shall be notified by the Contractor to the Contracting Authority in writing, specifying the date from which the change will take effect.
(2) From the amount of receivables past due: in the event of non-compliance by the Contracting Authority with the deadlines for payment of any of the instalments, the Contractor will be entitled to accrue statutory interest. Interest shall be calculated from the day following the due date for payment.
11. The contracting authority does not provide for a grace for the payment of interest on the principal amount due. Interest payments will be made at the end of each quarter, starting on 30.9.2015. The amount of interest is calculated on the basis of the actual number of days in each tax period in relation to the number of days in the year (each interest year is assumed to be 365 days).
12. If the due date expires on a public holiday, the due date is deemed to have been respected if the repayment of the instalments took place on the first working day after the due date (working days: Monday-Friday).
13. In the event of failure by the Contracting Authority to pay instalments exceeding 45 days, the Contractor shall be entitled to put the contract immediately due, after the contracting authority has been given an additional period of not less than 45 days.
14. The contracting authority provides for the possibility of changing the repayment schedule in individual years – during the repayment period – without charging additional charges in addition to the costs presented in the Contractor’s tender.
15. The contracting authority provides for the possibility of early repayment of the debt, without charging additional charges, in addition to the costs set out in the Contractor’s tender. In the event of early repayment, the Contracting Authority will inform the Contractor 7 days before the scheduled payment.
16. The contracting authority provides for the possibility of extending the repayment period by a maximum of 3 years (i.e. by 12 consecutive quarterly instalments), together with a rescheduling in the form of an addendum to the contract, without charging additional charges in addition to the costs presented in the Contractor’s tender. If the repayment is extended by up to a further 3 years (i.e.: 12 instalments):
(1) The contracting authority shall inform the Contractor, within 30 days before the scheduled payment of the instalments, of his intention to avail himself of the possibility of extending the period of payment by means of a written declaration.
(2) the remaining part of the principal will be payable in equal instalments (subject to the last instalment being the equalisation instalment) at the end of each quarter;
(3) during the extended repayment period (12 instalments) the Contractor will be entitled to remuneration in the form of interest on the outstanding principal;
(4) during the extended payment period (12 instalments), interest will be payable at the end of each quarter.
Allowing the Contractor to extend the repayment period at the submission stage is optional and is one of the tender evaluation criteria.
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