12-Bid Guaranty and Performance.pdf

This is a Bid Guaranty and Performance/Payment Bond Requirements document issued by Harris County, Texas for the Loading Dock Expansion project at Ben Taub Hospital for Harris Health, which has an estimated budget of $2,500,000. The document outlines mandatory bonding requirements that all bidders must submit with their proposals to demonstrate financial commitment and capability to complete the work.

Bidders are required to submit a guaranty with each bid in one of two forms: an individual bid bond or a bank cashier's check, each payable to Harris County in the amount of 5% of the total bid value. Upon contract award, the successful bidder must execute and furnish a performance and/or payment bond within ten days of receiving the bond application form from Harris County. The performance and/or payment bond must equal the full contract amount and must be issued by a surety company authorized to conduct business in Texas. If the successful bidder submits a bank cashier's check as the initial guaranty, Harris County retains the option to either hold the check until contract completion or require the contractor to obtain a formal performance and/or payment bond. Bidders must return all required bond forms and documentation to the Harris County Office of the Purchasing Agent at 1111 Fannin Street, 12th Floor, Houston, Texas 77002 within ten days of award; failure to do so renders the award ineffective. Harris County will not accept bond forms other than those prescribed by the county, and written verification of bond validity from the contractor's surety must be received before any contract payments are made.