外文翻譯----公路保修條款的評(píng)析-公路隧道-在線瀏覽
2025-03-24 09:09本頁面
【正文】 d to pay $60 million for a 20year pavement warranty on their Route 44 project (NM 44, now US 550). The warranty includes a ceiling clause that caps total expenditures at $110 million. As the first longterm highway warranty in the United States, the transaction set a controversial precedent that parties interested in innovative highway contracting, including other state department of transportations (DOTs), the USDOT, sureties, and contractors, view as a test case for evaluating pricing and costeffectiveness. An interim audit report published by the State of39。 New Mexico [Abbey (2021). the Legislative Finance Committee, State Highway and Transportation Department. Santa Fe. .] provides invaluable fiscal projections and challenges the cost effectiveness of the $60 million expenditure. This paper presents an independent analysis of the effectiveness of the warranty clauses. Based upon NMSHTD data, the analysis contends that $60 million was a fair cost of the 20year pavement warranty at the time of acceptance if the expenditure ceiling is not considered. Furthermore. this paper argues that the ceiling on expenditure can be valuable. Using the real options approach, the paper evaluates the warranty ceiling clause on NM 44 and some policy suggestions are discussed. Introduction： State Departments of Transportation (DOT) turned increasingly proactive when awarding large highway pavement contracts as a result of the United States Federal Highway Administration39。 NM 44 warranty broke new ground in both length and cost. It was the first longterm highway warranty in the United States and.,at $62 million, the most expensive. Since conception, its economics and applicability to other projects has been a subject of debate. Moreover, the two ceiling clauses in the warranty agreement that li mit cumulative traffic volume and maintenance expenditures have been neither examined nor evaluated. In this paper we address the cost effectiveness of the warranty clauses in the NM 44 project. 1 Warranty Provisions for NM 44 Two primary participants, NMSHTD and Mesa Project Development Contractor (PDC), a division of Wichita, Koch Performance Roads, Inc., cooperated on the NM 44 project. The NMSHTD laid out design criteria, performance requirements, and oversight procedures, and estimated a lifecycle cost to establish the overall present value of the expected maintenance during the 20year warranty period. Through team building and open munications, NMSHTD was able to monitor performance without responsibility for performance, while Mesa PDC was able to gain insight into the development and award process along with the limitations and constraints that had to be addressed. To carry a longterm wa
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