Constant dropping wears away a stone…

Constant dropping wears away a stone…

The coronavirus pandemic has changed the relatively predictable economic reality into a situation with lots of question marks. It turned out that with one administrative decision you can block the activity of entire sectors of the economy. Fortunately, the activity of the construction industry was maintained, which allowed to continue the implementation of works and maintain the financial flows of the contractors. The epidemic situation has also influenced the finding of positive solutions involving accelerating payments from public procurers, these standards should remain forever. Thanks to such a response to the current situation, the largest public procurers have become a very attractive partner, a reliable payer who understands the problems of the industry.

At the beginning of February, during the meeting of the “Round Table” opening the Polish Infrastructure and Construction Conference, the panelists talked about the need for a partnering attitude of the Employers towards construction companies, also in terms of a more liberal approach to the financial security of contracts – a guarantee of proper performance. The GDDKiA Director, participating in the panel, declared openness to initiatives that could help construction companies because we have a common goal: the implementation of ambitious infrastructure projects. It’s pleasing to see that words have been turned into action. GDDKiA informed representatives of the construction sector about the introduction of many changes in the conduct of investments, making the cooperation of contracting authorities and contractors easier. For the security of conducted works and financial liquidity of companies carrying out construction works, the most important is the improvement of financial flows for completed works and the 5-year quality guarantee period secured by a financial guarantee. Acceptance of guarantees in electronic form was also allowed.
Reducing the level of financial security to 3% of the gross contract value and a 5-year warranty period secured by a guarantee for new tenders announced by GDDKiA is the right direction that we hope will follow the other key contracting authorities.

Autor:

Bartosz Tokarski, Deputy Director of the Insurance Bureau of Strategic Clients EIB SA

Last Updated on December 10, 2020 by Karolina Ampulska

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