17-Attachment II - Bid Guaranty and Performance Bond Information and Requirements.pdf
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- Solicitation number
- 26/0086
- Issued by
- Harris County, Texas
About this file
This is a Bid Guaranty and Performance Bond Information and Requirements document for Harris County, Texas, related to the Isom Stormwater Detention Basin project for the Harris County Flood Control District, which carries an estimated budget of $10,747,981 and is funded through CDBG-DR resources. All bidders must 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.
Bidders may satisfy the guaranty requirement through either 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. The performance and/or payment bond must be executed by a surety company authorized to conduct business in Texas and shall equal the full contract amount unless otherwise specified. The prescribed bond application form is available from Harris County and is the only form accepted for submission. Completed performance and/or payment bond forms and related documentation must be returned 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 meet this deadline may result in the award being rendered 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 made.
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BID GUARANTY AND PERFORMANCE/PAYMENT BOND
INFORMATION AND REQUIREMENTS
A guaranty shall be submitted with each bid that the bidder will execute and furnish a performance and/or payment bond within ten days after award of the contract and receipt of performance/payment bond application form. Guaranty may be submitted in either of these forms:
A. Individual bid bond payable to Harris County for 5% of the total amount of each separate bid, or
B. Bank cashier’s check payable to Harris County for 5% of the total amount of each separate bid.
If the successful bidder submits a bank cashier’s check as guaranty, Harris County may elect to hold the check until all provisions of the contract have been completed, or require the contractor to make a performance and/or payment bond. The performance and/or payment bond shall be in the amount equal to the amount of money to be paid by the County under the contract, unless otherwise stated, and shall be executed by a surety company authorized to do business in the State of Texas. The prescribed performance and/or payment bond application is available to the bidder from Harris County, and is the only form Harris County will accept.
If the performance and/or payment bond forms and related documents are not returned to the
Harris County Office of the Purchasing Agent, 1111 Fannin Street, 12th Floor, Houston, TX 77002, within ten days, Harris County has the right to render the award ineffective. Written verification of the validity of the bond shall be received by the Office of the Purchasing Agent from the contractor’s surety before any payments will be made.
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