The subject of the contract is the granting and servicing of a long-term PLN loan up to PLN 5,000,000.00 to cover the budget deficit and repayment of previously incurred liabilities from credits and loans. A detailed description of the order is included in the Terms of Reference

1) The Contractor shall grant the Employer in 2019 a loan in the Polish currency in the amount of up to PLN 5,000,000.00 (in words: five million zlotys 00/100) on the terms specified in the contract,

2) loan launch date: from the day of signing the contract until 31/12/2019 on the basis of the Employer's instruction sent by fax, e-mail or in writing, not more than 2 business days before the tranche is launched. Instructions will be sent until 15:00. If sent by fax or e-mail, the Employer may request confirmation of receipt of the instruction, to which the Contractor is absolutely obliged.

3) The loan will be released in one tranche for the basic account of the Wołów Commune.

4) The loan interest rate determined quarterly on the basis of the variable WIBOR 3M rate - recorded on the last business day of the month preceding the period for which interest is calculated plus a margin in the amount resulting from the offer.

Commission for the loan granted is a percentage and cannot be more than 0.50%

5) The commission for the loan granted will be payable once, until 15/01/2020.

6) The offer price (loan cost) is the sum of interest (3M WIBOR rate of 1/12/2019 + fixed bank margin) and a commission payable on a one-off basis. No other additional fees may be charged (e.g. for maintaining an account, transfers, for issuing opinions on the repayment of the loan, commission on the loan received, early repayment of all or part of the loan, etc.).

7) Grace in repayment of capital until 30.3.2020.

8) The loan will be repaid by 31/12/2030.

9) The Purchaser reserves the right not to use the full amount of the loan granted and the right to repay it early without additional fees and commissions.

10) Interest will be calculated only on actually used debt according to variable interest rate.

11) The interest will be repaid by the 15th day of the month following the end of the calendar quarter.

12) The Contractor will not charge any commission on the loan or any additional fees.

13) Bank margin is a fixed value throughout the loan period.

14) In the event of early repayment of the loan, interest will be calculated for the period of its actual use.

A detailed description of the subject of the contract is contained in the Terms of Reference