2-Bid Guaranty and Performance.pdf
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- Solicitation number
- 25/0269
- Issued by
- Harris County, Texas
About this file
This document outlines the bid guaranty and performance/payment bond information and requirements for Harris County contract opportunities. All bidders must submit a guaranty with their bid, guaranteeing they will execute and furnish a performance and/or payment bond within ten days after contract award and receipt of the performance/payment bond application form.
The guaranty must be submitted in one of 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 successful bidder submits a cashier's check, Harris County may hold it until contract completion or require a performance/payment bond equal to the contract amount, executed by a Texas-authorized surety company. Performance and payment bond forms must be returned to the Harris County Office of the Purchasing Agent at 1001 Preston, Suite 670, Houston, Texas 77002 within ten days, or the award becomes ineffective. Written verification of bond validity from the contractor's surety must be received before any payments are 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, 1001 Preston, Suite 670, Houston, Texas 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.
File details come from the government source that posted it. Updated .