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r <br /> ' LR 109-4 <br /> Page 2 of 4 <br /> ' Method of Adjustment. Steel cost adjustments will be computed as follows: <br /> SCA = QXD <br /> Where: SCA = steel cost adjustment, in dollars <br /> Q = quantity of steel incorporated into the work, in Ib (kg) <br /> ' D = price factor, in dollars per lb (kg) <br /> - <br /> D MPIM- MPIL <br /> ' Where: MPIM = The Materials Cost Index for steel as published by the Engineering News- <br /> Record for the month the steel is shipped from the mill. The indices will be <br /> converted from dollars per 100 Ib to dollars per Ib (kg). <br /> MPIL = The Materials Cost Index for steel as published by the Engineering News- <br /> Record for the month prior to the letting for work paid for at the contract price; <br /> or for the month the agreed unit price letter is submitted by the Contractor for <br /> ' extra work paid for by agreed unit price. The indices will be converted from <br /> dollars per 100 Ib to dollars per Ib (kg). <br /> The unit weights (masses) of steel that will be used to calculate the steel cost adjustment for the <br /> various items are shown in the attached table. <br /> No steel cost adjustment will be made for any products manufactured from steel having a mill <br /> shipping date prior to the letting date. <br /> If the Contractor fails to provide the required documentation, the method of adjustment will be <br /> ' calculated as described above; however, the MPIM will be based on the date the steel arrives at <br /> the job site. In this case, an adjustment will only be made when there is a decrease in steel costs. <br /> ' Basis of Payment. Steel cost adjustments may be positive or negative but will only be made when <br /> there is a difference between the MPIL and MPIM in excess of five percent, as calculated by: <br /> Percent Difference = {(MPIL- MPIM) - MPIL} x 100 <br /> rSteel cost adjustments will be calculated by the Engineer and will be paid or deducted when all <br /> other contract requirements for the items of work are satisfied. Adjustments will only be made for <br /> fluctuations in the cost of the steel as described herein. No adjustment will be made for changes <br /> in the cost of manufacturing, fabrication, shipping, storage, etc. <br /> ' The adjustments shall not apply during contract time subject to liquidated damages for completion <br /> of the entire contract. <br /> 1 <br /> r <br /> r <br /> i <br />