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Provided guarantees issued by banks or insurance companies

In the fiscal year 2017 the Group provided its counterparties with guarantees issued by banks or insurance companies for the total amount of 51 359 thousand PLN, which included security of:

  • contract performance and defect liability 43 268 thousand PLN,
  • bid bond 4 166 thousand PLN,
  • advance payment bonds 3 925 thousand PLN.

In the 12 months ended 31 December 2016 the Group provided its counterparties with guarantees issued by banks or insurance companies for the total amount of 121 277 thousand PLN, which included security of:

  • contract performance and defect liability 63 683 thousand PLN,
  • advance payment bonds 53 645 thousand PLN,
  • bid bond  3 557 thousand PLN,
  • other 392 thousand PLN.

In 2017 the Group did not provide any guarantees which total amount relating to a single customer would exceed 10% of its equity.

In 2016 the Group extended guarantees which total amount relating to a single customer exceeded 10% of the Company’s equity. The guarantees were provided to secure contract performance, removal of defects and return of advance payments, for the total amount of 57 348 thousand PLN.


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