Arizona Revised Statutes Title 41. State Government § 41-2573. Bid security

A. As a guarantee that the contractor will enter into a contract, bid security is required for all construction procured pursuant to § 41-2533 and all construction services procured pursuant to § 41-2578, subsection F or § 41-2579, subsection F if the purchasing agency estimates that the budget for construction, excluding the cost of any finance services, maintenance services, operations services, design services, preconstruction services or other related services included in the contract, will be more than the amount established by § 41-2535, subsection D. Bid security shall be a certified check or surety bond.

B. Bid security shall be submitted in the following amounts:

C. This section does not prevent a state governmental unit from requiring such bid security in relation to any construction contract. The surety bond shall be executed and furnished as required by title 34, chapter 2 or chapter 6,  1 as applicable, and the conditions and provisions of the surety bond regarding the surety's obligations shall follow the form required by § 34-201 or 34-608, as applicable.

D. If the invitation for bids or request for proposals requires security, noncompliance requires that the bid be rejected unless, pursuant to rules, it is determined that the bid fails to comply in a nonsubstantial manner with the security requirements.

E. After the bids or proposals are opened, they are irrevocable for the period specified in the invitation for bids or request for proposals, except as provided in § 41-2533, subsection F, § 41-2578, subsection F and § 41-2579, subsection F. If a bidder is permitted to withdraw its bid before award, no action may be had against the bidder or the bid security.