Arkansas Notice of Objection Regarding Late Performance in Delivery of Goods and Demand Assurance

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US-02310BG
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Description

Section 2-609(1) of the Uniform Commercial Code provides:


A contract for sale imposes an obligation on each party that the other's expectation of receiving due performance will not be impaired. When reasonable grounds for insecurity arise with respect to the performance of either party the other may in writing demand adequate assurance of due performance and until he receives such assurance may, if commercially reasonable, suspend any performance for which he has not already received the agreed return.

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FAQ

In compliance with Arkansas Code Annotated § 19-11-104, the State must have a copy of the anticipated Contractor's Equal Opportunity (EO) Policy prior to issuing a contract award.

§ 19-11-801. Architects and engineers are selected through the use of requests for qualifications or requests for proposals and may not be selected only on the basis of price. Before signing a contract with an architect or engineer, a campus or unit must comply with the following Board policies.

A person obstructs governmental operations if he/she knowingly obstructs, impairs, or hinders the performance of any governmental function by using or threatening to use force. If convicted, a person faces up to 1 year imprisonment and a $2,500 maximum fine.

State agencies, including exempt agencies, may enter into contracts which contemplate the payment of interest and late charges, but only when such late charges are incurred sixty (60) days after payment is due or carrying charges under such rules as may be promulgated by the State Procurement Director.

The five essential elements of a contract in Arkansas are the offer, acceptance, consideration, mutual obligation, and capacity of each party.

(A) A cooperative purchasing agreement is limited to commodities and services for which the public procurement unit may realize savings or material economic value, or both.

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Arkansas Notice of Objection Regarding Late Performance in Delivery of Goods and Demand Assurance