The black paving material used to surface roads and parking lots, made of stone and tar-like binder.
Asphalt (also called asphalt concrete or hot mix asphalt) is a paving material consisting of aggregate bound together by bituminous asphalt cement. It is the most widely used pavement material for roads, parking lots, and driveways. Asphalt is laid hot and compacted to produce a durable, flexible pavement surface.
Asphalt pricing is unusually volatile because it tracks the cost of liquid binder, which moves with oil markets, so a paving bid held open too long can lose its margin to a price spike. Estimators also have to coordinate quantity, thickness, and tonnage from the geotechnical and civil drawings, since underestimating compacted depth or waste factor on a large parking lot quickly erodes the line item.
The estimator priced 4,500 tons of hot mix for a distribution-center lot and added an asphalt-binder escalation clause to the proposal after the bid validity period stretched past sixty days.
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