(a) The contracting agency shall establish, as part of the contract, a maximum compensation for the project.
(b) Payment shall be based on the work actually done and the materials actually used.
(c) The contractor shall submit periodic invoices for labor, materials, and overhead and profit in accordance with the rates established in the bid proposal.
Structure Arkansas Code
Subchapter 2 - Award of Contracts
§ 22-9-201. Applicability of §§ 22-9-202 — 22-9-204
§ 22-9-202. Construction of this section and §§ 22-9-203 and 22-9-204
§ 22-9-203. Public improvements generally — Award procedure
§ 22-9-204. Subcontractors exceeding $50,000 — Penalty
§ 22-9-205. Public improvements generally — Interest on delinquent payments
§ 22-9-207. Construction or purchase of memorial, statue, bust, etc
§ 22-9-208. Renovation of historic sites — Legislative intent and construction
§ 22-9-209. Renovation of historic sites — Advertising of contracts
§ 22-9-210. Renovation of historic sites — Award of contracts
§ 22-9-211. Renovation of historic sites — Payment
§ 22-9-212. Public improvements generally — Trench or excavation safety systems
§ 22-9-213. Exemption of state projects from local regulation