11-Bid Guaranty and Performance.pdf

This is a Bid Guaranty and Performance/Payment Bond Requirements document issued by Harris County for the Dinner Creek Stormwater Detention Basin – Phase 1 project for the Harris County Flood Control District, with an estimated budget of $35,656,303. All bidders are required to submit a guaranty with their bid, confirming their commitment to execute and furnish a performance and/or payment bond within ten days of contract award and receipt of the bond application form. The guaranty may be submitted as either an individual bid bond or a bank cashier's check, both payable to Harris County in an amount equal to 5% of the total bid. Bidders must obtain the prescribed performance and/or payment bond application form directly from Harris County, as this is the only form the County will accept.

The performance and/or payment bond must be executed by a surety company authorized to conduct business in the State of Texas and shall be in the amount equal to the contract value unless otherwise specified. If the successful bidder submits a bank cashier's check as guaranty, Harris County reserves the right to either hold the check until all contract provisions are completed or require submission of a performance and/or payment bond. Should the contractor fail to return the completed bond forms and related documents to the Harris County Office of the Purchasing Agent at 1111 Fannin Street, 12th Floor, Houston, TX 77002 within ten days, Harris County may render the award ineffective. Written verification of bond validity from the contractor's surety must be received by the Purchasing Agent's office before any contract payments will be made.