Steel Price Adjustments may be made to provide additional compensation to the Contractor, or a credit to the Department, for fluctuations in steel prices when optioned by the Contractor.
If your project uses Steel Price Adjustments, the calculations can be performed using a Steel Adjustment Calculator, then tracking that adjustment against the Steel Item(s) within FACS by adding the Steel Item(s) to a Daily Inspection Report.
For New York based projects, the New York DOT Website provides a clear and simple Steel Adjustment Calculation sheet which can be accessed here, or you can download the spreadsheet directly "Steel Adjustment Calculator Spreadsheet (October 2021)"
NOTE: FACS can automatically calculate Fuel and Asphalt price adjustments. Contact your Account Manager to learn more.
If you have any questions, or need additional assistance, please reach out to our support team at support@facsware.com and we will be happy to assist you.