The bond required or authorized in this subchapter shall in itself be a full compliance with all other statutes of this state in effect relating to bond requirements on contracts for the repair, alteration, or erection of any building, structure, or improvement, public or private, it being the intention of this subchapter to provide a […]
This subchapter shall not apply to any contract executed by the Arkansas Department of Transportation.
(a) A contract in a sum exceeding the amount stated in § 22-9-203 providing for the repair, alteration, or erection of any public building, public structure, or public improvement shall not be entered into by the State of Arkansas or any subdivision of the state, by any county, municipality, school district, or other local taxing […]
(a) No contract in any sum exceeding one thousand dollars ($1,000) providing for the repair, alteration, or erection of any building, structure, or improvement shall be entered into by any church, religious organization, charitable institution, or by any agency of the foregoing, unless the contractor shall furnish to the party letting the contract a bond […]
Any person, firm, corporation, or association entering into a contract for the repair, alteration, or erection of any building, structure, or improvement may, at his or her or its option, require the contractor to furnish a bond in a sum equal to the amount of the contract.
The bond required or authorized in this subchapter shall be executed by a solvent corporate surety company authorized to do business in the State of Arkansas. The bond shall be conditioned that the contractor shall faithfully perform his or her contract and shall pay all indebtedness for labor and materials furnished or performed in the […]
Before any work is performed under the contract, the bond shall be filed with the clerk of the circuit court of the county in which the repairs, alterations, or erection of any building, structure, or improvements are made.
(a) All persons, firms, associations, and corporations who have valid claims against the bond may bring an action thereon against the corporate surety. (b) No action shall be brought on the bond after six (6) months from the date final payment is made on the contract, nor outside the State of Arkansas.
