Central Paving 6/16/2022 - Laserfiche WebLink

I 1 2 The adjustment is not a guarantee of full compensation for changes in the cost of asphalt 3 binder. The Contracting Agency does not guarantee that asphalt binder will be available 4 at the reference cost. 5 I 6 The Contracting Agency will establish asphalt binder reference costs twice each month 7 and post the information on the Agency website at: https://wsdot.wa.gov/business- 8 wsdot/how-do-business-us/public-works-contracts/payments-reporting/asphalt-binder- 9 reference-cost. The reference cost will be determined using posted prices furnished by 10 Poten & Partners, Inc. If the selected price source ceases to be available for any reason, 11 then the Contracting Agency will select a substitute price source to establish the reference 12 cost. 13 14 Price adjustments will be calculated one time per month. No price adjustment will be made 15 if the Current Reference Cost is within +/-5% of the Base Cost. Reference costs for 16 projects located in Eastern versus Western Washington shall be selected from the column 17 in the WSDOT website table labeled "Eastern", or"Western", accordingly. The adjustment 18 will be calculated as follows: 19 20 If the reference cost is greater than or equal to 105% of the base cost, then 21 Asphalt Cost Price Adjustment = (Current Reference Cost—(1.05 x Base Cost))x (Q 22 x 0.056). 23 24 If the reference cost is less than or equal to 95% of the base cost, then 25 Asphalt Cost Price Adjustment= (Current Reference Cost—(0.95 x Base Cost))x (Q i 26 x 0.056). 27 28 Where: Current Reference Cost is selected from the website table based on 29 the "Date Effective" that immediately precedes the current month's 30 progress estimate end date. For work completed after all authorized 31 working days are used, the adjustment will be based on the posted 32 reference cost during which contract time was exhausted. 33 34 Base Cost is selected from the website table based on the "Date 35 Effective"that immediately precedes the contract bid opening date, and 36 shall be a constant for all monthly adjustments. 37 38 Q=total tons of all classes of HMA paid in the current month's progress 39 payment. 40 41 "Asphalt Cost Price Adjustment", by calculation. I 42 "Asphalt Cost Price Adjustment" will be calculated and paid for as described in this 43 section. For the purpose of providing a common proposal for all bidders, the Contracting 44 Agency has entered an amount in the proposal to become a part of the total bid by the 11 45 Contractor. 46 47 END DIVISION5.RTF 48 49 50 END DIVISION 5 51 I 2022 PAVEMENT MAINTENANCE OVERLAY PAGE 70.1 OF 85 SPECIALS WORK ORDER 3764 ADDENDUM 2 MARCH 11,2022