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<p class="MsoNormal"><span style="color:#0D0D0D">Dear Subscriber:<o:p></o:p></span></p>
<p class="MsoNormal"><span style="color:#0D0D0D"><o:p> </o:p></span></p>
<p class="MsoBodyText" style="line-height:12.4pt;mso-line-height-rule:exactly"><span style="font-size:10.0pt;font-family:"Calibri",sans-serif">We</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:.75pt">
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif">have</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:.7pt">
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif">posted</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:.75pt">
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;color:#0D0D0D">CPD 18-5, “Steel Price Increases”
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:-.05pt">on</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:.85pt">
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:-.05pt">our</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:.85pt">
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif">website: </span>
<span style="font-size:10.0pt;font-family:"Calibri",sans-serif;color:windowtext"><o:p></o:p></span></p>
<p class="MsoBodyText" style="line-height:110%"><a href="http://www.dot.ca.gov/hq/construc/CPDirectives/cpdindex.htm"><span style="font-size:10.0pt;line-height:110%;font-family:"Calibri",sans-serif">http://www.dot.ca.gov/hq/construc/CPDirectives/cpdindex.htm</span></a><span style="font-size:10.0pt;line-height:110%;font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
<p class="MsoBodyText" style="line-height:110%"><span style="font-size:10.0pt;line-height:110%;font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoNormal"><span style="color:#0D0D0D">This directive addresses recent steel price increase concerns voiced by some contractors on Caltrans fixed-price contracts. It reminds staff that price volatility risk on fixed-price contracts is borne by the
 contractor unless the contract itself includes specific payment adjustment provisions (for example, asphalt pay adjustments for price index fluctuations). It also addresses change order work involving steel related items.<o:p></o:p></span></p>
<p class="MsoBodyText" style="line-height:12.4pt;mso-line-height-rule:exactly"><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:-.05pt"><o:p> </o:p></span></p>
<p class="MsoBodyText" style="line-height:12.4pt;mso-line-height-rule:exactly"><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:-.05pt">Construction</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:2.3pt">
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif">Publications</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:0pt"><o:p></o:p></span></p>
<p class="MsoBodyText" style="line-height:110%"><span style="font-size:10.0pt;line-height:110%;font-family:"Calibri",sans-serif"><o:p> </o:p></span></p>
<p class="MsoBodyText" style="line-height:12.4pt;mso-line-height-rule:exactly"><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:-.05pt">To</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:.6pt">
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif">unsubscribe</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:.5pt">
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif">from</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:.55pt">
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif">these</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:.55pt">
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif">updates,</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:.55pt">
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif">follow</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:.55pt">
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif">the</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:.55pt">
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif">directions</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:.5pt">
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif">at</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:.6pt">
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif">the</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:.55pt">
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif">bottom</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:.55pt">
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:-.05pt">of</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:.6pt">
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif">this</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:.55pt">
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif">webpage:<o:p></o:p></span></p>
<p class="MsoBodyText" style="margin-left:.25in"><a href="http://lists.dot.ca.gov/mailman/listinfo/construction-manual-updates-announce"><span style="font-size:10.0pt;font-family:"Calibri",sans-serif">http://lists.dot.ca.gov/mailman/listinfo/construction-manual-updates-announce</span></a><span style="font-size:10.0pt;font-family:"Calibri",sans-serif"><o:p></o:p></span></p>
<p class="MsoNormal"><span style="font-size:10.0pt;color:#1F497D"><o:p> </o:p></span></p>
<p class="MsoBodyText" style="line-height:12.4pt;mso-line-height-rule:exactly"><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:-.05pt">Construction-Manual-Updates-Announce</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif">
 mailing</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;letter-spacing:2.25pt">
</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif">list</span><span style="font-size:10.0pt;font-family:"Calibri",sans-serif;color:windowtext"><o:p></o:p></span></p>
<p class="MsoBodyText" style="margin-left:.25in;line-height:110%"><a href="mailto:Construction-Manual-Updates-Announce@lists.dot.ca.gov"><span style="font-size:10.0pt;line-height:110%;font-family:"Calibri",sans-serif;letter-spacing:-.05pt">Construction-Manual-Updates-Announce@lists.dot.ca.gov</span></a><span style="font-size:10.0pt;line-height:110%;font-family:"Calibri",sans-serif;color:#0563C1;letter-spacing:-.05pt">
</span><span style="font-size:10.0pt;line-height:110%;font-family:"Calibri",sans-serif;color:#1F497D;letter-spacing:-.05pt"><o:p></o:p></span></p>
<p class="MsoBodyText" style="margin-left:.25in;line-height:110%"><a href="http://lists.dot.ca.gov/mailman/listinfo/construction-manual-updates-announce"><span style="font-size:10.0pt;line-height:110%;font-family:"Calibri",sans-serif">http://lists.dot.ca.gov/mailman/listinfo/construction-manual-updates-announce</span></a><span style="font-size:10.0pt;line-height:110%;font-family:"Calibri",sans-serif;color:windowtext;letter-spacing:0pt"><o:p></o:p></span></p>
<p class="MsoNormal"><o:p> </o:p></p>
<p class="MsoNormal"><o:p> </o:p></p>
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