Arkansas Agreement for System Procurement and Integration
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FAQ
(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.
The primary collection of laws governing Arkansas procurement can be found in Title 19, Chapter 11, Subchapter 2 of the Arkansas Code Annotated titled ?Arkansas Procurement Law.? With certain exceptions, Arkansas Procurement Law applies to every State agency expenditure of public funds under any contract.
Procurement contracting is the process of building legally binding agreements between contractors and suppliers in the course of managing a project. These contracts are needed for projects to obtain needed materials, supplies and services.
The essential elements of a contract under Arkansas law include (1) competent parties, (2) subject matter, (3) legal consideration, (4) mutual agreement, and (5) mutual obligations.
