Asphalt Cement Price Adjustment. An asphalt cement escalation/de- escalation clause will be in effect during the life of the Contract. A price adjustment will be made for the items containing asphalt cement listed below. The price adjustment as calculated in Section 00195.10 (c) above will use the MACMP for the month the asphalt is incorporated into the Project. The price adjustment will be determined by multiplying the asphalt incorporated during the month for subject Pay items by the Adjustment Factor. Approved and authorized for signature by City Council acting as the Local Contract Review Board on April 7, 2021. CITY OF BEND, OREGON Xxxx Xxxx, City Manager Date APPROVED AS TO FORM: City Attorney’s Office Date XXXXXX BUTTE ASPHALT, LLC Title: Date City Contracting & Funding Authorizations: By: Xxxxx Xxxxx, Transportation & Mobility Director City of Bend, Oregon Date By: Xxxxxxx Xxxxx, Streets Division Manager City of Bend, Oregon Date By: Xxxxxxx Xxxxxxx, Project Manager City of Bend, Oregon Date By: Xxxx Xxxxxxx Procurement & Public Contracts Director City of Bend, Oregon Date EXHIBIT A SCOPE OF WORK Basic Description of Project The City will purchase MHMAC for which prices and contractor's location have been submitted on the enclosed bid form whenever the City determines that the overall cost of purchasing MHMAC from one contractor is lower than purchasing MHMAC from another contractor. The City’s calculation of the overall cost shall be based on the contractor's unit price and the City’s transportation costs. The City shall transport the MHMAC from the Contractor’s place of business to the City’s work sites unless the City makes arrangements with the Contractor to deliver the MHMAC to the work sites. If the City requests delivery, a reasonable fee shall be agreed to at time of order. The MHMAC shall meet all applicable government laws, regulations and standards including the specifications (Exhibit D). In event the City determines that a load of MHMAC does not comply with said rules, regulations, standards, or specifications the City shall notify the Contractor and the Contractor shall not charge the City for the load. The City shall have the right either to reject with or without instructions as to disposition, or to require correction or replacement. The foregoing shall not be considered the City’s exclusive remedy for the failure of the MHMAC to meet said laws, regulations, standards, or specifications. Estimate of Purchases City of Bend makes no representation or guarantee whats...
Asphalt Cement Price Adjustment. The amount of compensation to be paid to the Contractor may increase or decrease as a result of changes to the Monthly Asphalt Cement Material price (MACMP) for asphalt cement established by ODOT. This asphalt cement escalation and de-escalation clause will work as follows:
Asphalt Cement Price Adjustment. For this contract, no price adjustment shall be considered.
Asphalt Cement Price Adjustment. The Owner will adjust the payment to the Contractor based on changes to the Ministry of Transportation’s (MTO) performance graded asphalt cement price index unless the Contractor opts out by notifying the Town in writing within 5 business days of receiving permission to start work. Once the Contractor has opted out of payment adjustments based on the index, the Contractor will not be permitted to opt back in. The price index will be published monthly by the MTO. The MTO price index will be used to calculate the amount of the payment adjustment per tonne of new asphalt cement accepted into the Work. The price index will be based on the price, excluding taxes, FOB the depots in the Toronto area, of asphalt cement grade PG 58-28 or equivalent. One index will be used to establish and calculate the payment adjustment for all grades. A payment adjustment per tonne of new asphalt cement will be established for each month in which paving occurs when the price index for the month differs by more than 5% from the price index for the month prior to tender opening. When the price index differential is less than 5%, there will be no payment adjustment established for that month. Payment adjustments due to changes in the price index are independent of any other payment adjustments made to the hot mix tender Items. The payment adjustment per tonne will apply to the quantity of new asphalt cement in the hot mix accepted into the Work during the month for which it is established. The payment adjustment for the month will be calculated from the following formulae: Asphalt Cement Price Adjustment, PA IP Paving Within Approved Contract Time Paving Beyond Approved Contract Time IP>1.05ITO PA=(IP-1.05ITO) x TAC PA=(IAT-1.05ITO) x TAC IP<0.95ITO PA=(0.95ITO-IP) x TAC Where: PA = payment adjustment for new asphalt cement, in dollars ITO = performance graded asphalt cement price index value to be used is $1,156.00 IP = performance graded asphalt cement price index for the month in which paving occurs IAT = performance graded asphalt cement price index for the month of expiry of approved Contract Time TAC = quantity of new asphalt cement in tonnes The quantity of new asphalt cement includes all grades of asphalt cement supplied by the Contractor with and without polymer modifiers. For each month in which a payment adjustment has been established, the quantity will be calculated using the hot mix quantity accepted into the Work and its corresponding asphalt cement content as require...
