11-Bid Guaranty and Performance.pdf

This is a Bid Guaranty and Performance/Payment Bond Requirements document issued by Harris County, Texas for the Isom Stormwater Detention Basin project managed by the Harris County Flood Control District with an estimated budget of $10,747,981. The document outlines mandatory bonding requirements that all bidders must satisfy as a condition of bid submission and contract award. Bidders are required to submit a guaranty with their bid demonstrating their commitment to execute and furnish a performance and/or payment bond within ten days of contract award and receipt of the performance/payment bond application form from Harris County.

The guaranty may be submitted in two forms: an individual bid bond payable to Harris County for 5% of the total bid amount, or a bank cashier's check payable to Harris County for 5% of the total bid amount. If a cashier's check is submitted as guaranty, Harris County reserves the right to either hold the check until contract completion or require the contractor to obtain a performance and/or payment bond. The performance and/or payment bond must equal the full contract amount unless otherwise specified and must be executed by a surety company authorized to operate in Texas. All performance and/or payment bond forms and related documents must be returned to the Harris County Office of the Purchasing Agent at 1111 Fannin Street, 12th Floor, Houston, TX 77002 within ten days of award, or 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 prior to any contract payments being issued.