Common use of Asphalt Price Adjustment Clause in Contracts

Asphalt Price Adjustment. THE THIRD PARAGRAPH IS CHANGED TO: The Department will calculate the asphalt price adjustment by the following formula: A = (MA − BA)  T Where: A = Asphalt Price Adjustment MA = Monthly Asphalt Price Index for work performed from the first day of the month to the last day of the month for the month prior to the estimate cutoff date BA = Basic Asphalt Price Index T = Tons of New Asphalt Binder1 1. The Department will determine the weight of asphalt binder for price adjustment by multiplying the percentage of new asphalt binder in the approved job mix formula by the weight of the item containing asphalt binder. If a Hot Mix Asphalt Item has a payment unit other than ton, the Department will apply an appropriate conversion factor to determine the number of tons of asphalt binder used. THE SIXTH PARAGRAPH IS CHANGED TO: The basic asphalt price index is the asphalt price index for the month before the opening of bids. The Department will use the asphalt price index for the month before the regular monthly estimate cutoff date as the monthly asphalt price index for work performed in the previous calendar month. THE FOLLOWING IS ADDED: This work shall consist of the mechanical sweeping, collection and proper disposal of accumulated dirt and debris along barrier curb, ramps, xxxx areas, and shoulder areas as directed by the RE.

Asphalt Price Adjustment. THE THIRD PARAGRAPH IS CHANGED TO: The Department will calculate the asphalt price adjustment by the following formula: A = (MA − BA)  × T Where: A = Asphalt Price Adjustment MA = Monthly Asphalt Price Index for work performed from the first day of the month to the last day of the month for the month prior to the estimate cutoff date BA = Basic Asphalt Price Index T = Tons of New Asphalt Binder1 1. The Department will determine the weight of asphalt binder for price adjustment by multiplying the percentage of new asphalt binder in the approved job mix formula by the weight of the item containing asphalt binder. If a Hot Mix Asphalt Item has a payment unit other than ton, the Department will apply an appropriate conversion factor to determine the number of tons of asphalt binder used. THE SIXTH PARAGRAPH IS CHANGED TO: The basic asphalt price index is the asphalt price index for the month before the opening of bids. The Department will use the asphalt price index for the month before the regular monthly estimate cutoff date as the monthly asphalt price index for work performed in the previous calendar month. THE FOLLOWING IS ADDED: This work shall consist of the mechanical sweepingRemove, collection and proper disposal of accumulated dirt and debris along barrier curb, ramps, xxxx areassalvage, and shoulder areas dispose of warning and regulatory sign panels and assemblies as directed by indicated on the REplan. Restore the disturbed area to pre-construction conditions following the removal of sign assembly posts.

Asphalt Price Adjustment. THE THIRD PARAGRAPH IS CHANGED TO: The Department will calculate the asphalt price adjustment by the following formula: A = (MA − BA)  × T Where: A = Asphalt Price Adjustment MA = Monthly Asphalt Price Index for work performed from the first day of the month to the last day of the month for the month prior to the estimate cutoff date BA = Basic Asphalt Price Index T = Tons of New Asphalt Binder1 1. The Department will determine the weight of asphalt binder for price adjustment by multiplying the percentage of new asphalt binder in the approved job mix formula by the weight of the item containing asphalt binder. If a Hot Mix Asphalt Item has a payment unit other than ton, the Department will apply an appropriate conversion factor to determine the number of tons of asphalt binder used. THE SIXTH PARAGRAPH IS CHANGED TO: The basic asphalt price index is the asphalt price index for the month before the opening of bids. The Department will use the asphalt price index for the month before the regular monthly estimate cutoff date as the monthly asphalt price index for work performed in the previous calendar month. THE FOLLOWING IS ADDED: This work shall consist of the mechanical sweeping, collection and proper disposal of accumulated dirt and debris along barrier curb, ramps, xxxx areas, and shoulder areas as directed by the RE.