Act 1309 of 1999 has amended Arkansas Code Annotated 22-9-203. This is "An Act to Decrease the Amount of the Bid Bond for Public Works Projects."
The amended change is as follows: A five percent (5%) bid bond or a certified check in the amount of five percent (5%) of the bid shall accompany all submitted bids on projects that exceed $20,000.
This Act is effective July 30, 1999.