Price adjustment clauses : report.

Details

• Creators:
  Newcomb, David E. ; Lenz, Russel ; Epps, Jon
• Corporate Creators:
  Texas A&M Transportation Institute
• Corporate Contributors:
  United States. Federal Highway Administration
• Subject/TRT Terms:
  • Construction projects
  • Competitive bidding
  • Contract administration
  • Costs
  • Prices
  • Commodities
• Publication/ Report Number:
  FHWA/TX-13/0-6799-1
• Resource Type:
  Tech Report
• Geographical Coverage:
  Texas
• Corporate Publisher:
  Texas. Dept. of Transportation
• NTL Classification:
  NTL-ECONOMICS AND FINANCE-ECONOMICS AND FINANCE ; NTL-HIGHWAY/ROAD TRANSPORTATION-Construction and Maintenance
• Abstract:
  Price adjustment mechanisms exist to account for fluctuations in commodity or labor prices and have ; been used for highway construction in 47 states. They are useful in stabilizing bid prices in times of ; economic uncertainty and preventing defaults on contracts. This study examined the feasibility of ; establishing price adjustment practices on highway construction contracts in Texas. Researchers found that ; there is not a consensus among TxDOT districts or contractors about using price adjustment clauses (PACs), ; but those who favor such would use them for longer term, higher value projects if they were to be instituted. ; Because there is not a clear agreement at this time among contractors and among TxDOT personnel ; interviewed, implementation of PACs on construction projects cannot be recommended.
• Format:
  PDF
• Funding:
  Project 0-6799
• Download URL:
  https://rosap.ntl.bts.gov/view/dot/25973/dot_25973_DS1.pdf
• File Type:
  [PDF - 4.19 MB]
• Collection(s):
  US Transportation Collection
• Main Document Checksum:
  urn:sha-512:e64189d8679b33f87dfbec31d18a23448892ddb88dad502854ec7e8f80628f249313627b2ea227b502633c9cd1f6722a91bf4d8deaa4f46b7d497c2b1b74227e