Click here to download the 2012 Price Index Letter

S.T. Wooten's Policies and Procedures for FOB Asphalt Cement Pricing based on the NCDOT Liquid Index.

S T Wooten Corporation has made a commitment to our customers to provide the most economical price available for our asphalt materials by implementing a pricing structure based on the N.C. Department of Transportation (NCDOT) Monthly Terminal F.O.B. Asphalt Binder Price.

Because the Asphalt Cement Price changes on a monthly basis, S.T. Wooten Corporation reserves the right to adjust, up or down, its prices in accordance with the Binder Price fluctuation at any time during the performance of work.

The percent of AC listed below is used to calculate the price adjustment:

6.5%

The formula used to calculate the increase or decrease is as follows:

A = B + (D-C) * E

A = Adjusted Contract Price
B = Contract Unit Price at time of Bid
C = Base Index at time of Bid
D = Base Index at time of Construction
E = 6.5%

Example:

B = $55.00 per ton
C = $346.79 per ton
D = $385.00 per ton
E = 6.5%

A = $55.00 + ($385.00 - $346.79) * .065
A = $55.00 + ($38.21) * .065
A = $55.00 + $2.48
A = $57.48 per ton

All taxes will be applied to the adjusted contract price.