4.3.4.3.3 Public Bid Bonds
| Jurisdiction | Arizona |
Bids for public work must be accompanied by a certified check or surety bond for ten percent of the amount of the proposal as a guarantee that the contractor will enter into a contract to perform the proposal in accordance with the plans and specifications. Bid bonds must be executed by a surety company that has been authorized by the director of the Department of Insurance to transact surety business in Arizona. Individual sureties are not allowed. The terms and conditions of the bid bond must conform to...
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