2-Bid Guaranty and Performance.pdf
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- Solicitation number
- 26/0055
- Issued by
- Harris County, Texas
About this file
This is a Bid Guaranty and Performance/Payment Bond document issued by Harris County, Texas for the Sunset Heights Urgent Care Construction and Buildout project estimated at $10,481,414. The document outlines the financial assurance requirements that all bidders must submit with their bids to participate in this construction project. Bidders are required to submit a guaranty demonstrating their commitment to execute and furnish a performance and/or payment bond within ten days following contract award and receipt of the bond application form from Harris County.
Bidders may submit their guaranty in one of two forms: an individual bid bond payable to Harris County equal to 5% of the total bid amount, or a bank cashier's check payable to Harris County also equal to 5% of the total bid amount. If a bank cashier's check is submitted as guaranty, Harris County retains the option to hold the check until contract completion or require submission of a formal performance and/or payment bond. The performance and/or payment bond must be executed by a surety company authorized to conduct business in Texas and must be in an amount equal to the contract value unless otherwise specified. All required bond forms and related documentation must be submitted to the Harris County Office of the Purchasing Agent at 1111 Fannin Street, 12th Floor, Houston, Texas 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 disbursed.
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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, 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.
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