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I <br /> I <br /> 2 The Contracting Agency will establish asphalt binder reference costs twice each month <br /> 3 and post the information on the Agency website at: https://wsdot.wa.gov/business- <br /> 4 wsdot/contracts/about-public-works-contracts/payments-reportinq/asphalt-binder- <br /> I 5 reference-cost. The reference cost will be determined using posted prices furnished by <br /> 6 Poten & Partners, Inc. If the selected price source ceases to be available for any reason, <br /> 7 then the Contracting Agency will select a substitute price source to establish the reference <br /> I 8 cost. <br /> 9 <br /> 10 Price adjustments will be calculated one time per month. No price adjustment will be made <br /> Ii 1 if the Current Reference Cost is within +/-5% of the Base Cost. Reference costs for <br /> 12 projects located in Eastern versus Western Washington shall be selected from the column <br /> 13 in the WSDOT website table labeled "Eastern", or"Western", accordingly. The adjustment <br /> 14 will be calculated as follows: <br /> I15 <br /> 16 If the reference cost is greater than or equal to 105% of the base cost, then <br /> 17 Asphalt Cost Price Adjustment= (Current Reference Cost— (1.05 x Base Cost))x (Q <br /> I <br /> 18 19 x 0.056). <br /> 20 If the reference cost is less than or equal to 95% of the base cost, then <br /> I 21 Asphalt Cost Price Adjustment= (Current Reference Cost— (0.95 x Base Cost))x (Q <br /> 22 x 0.056). <br /> 23 <br /> I 24 Where: Current Reference Cost is selected from the website table based on <br /> 25 the "Date Effective" that immediately precedes the current month's <br /> 26 progress estimate end date. For work completed after all authorized <br /> I <br /> 27 working days are used, the adjustment will be based on the posted <br /> 28 reference cost during which contract time was exhausted. <br /> 29 <br /> 30 Base Cost is selected from the website table based on the "Date <br /> I31 Effective"that immediately precedes the contract bid opening date, and <br /> 32 shall be a constant for all monthly adjustments. <br /> 33 <br /> 34 Q =total tons of all classes of HMA paid in the current month's progress <br /> 35 payment. <br /> 36 <br /> I 37 "Asphalt Cost Price Adjustment", by calculation. <br /> 38 "Asphalt Cost Price Adjustment" will be calculated and paid for as described in this <br /> 39 section. For the purpose of providing a common proposal for all bidders, the Contracting <br /> I 40 Agency has entered an amount in the proposal to become a part of the total bid by the <br /> 41 Contractor. <br /> 42 <br /> 43 END DIVISIONS.RTF <br /> I <br /> 44 <br /> 45 <br /> 46 END DIVISION 5 <br /> I47 <br /> I <br /> I <br /> 2023 FEDERAL OVERLAY <br /> FEDERAL AID#STBGUL-2715(011) <br /> I <br /> WO#3788 March 2,2023 SP-95 <br />