24-Bid Guaranty and Performance.pdf

This is a Bid Guaranty and Performance/Payment Bond Information and Requirements document issued by Harris County, Texas, for the Renovation of CT Scan Suite and CT Simulator Suite at Smith Clinic for Harris Health, with an estimated budget of $1,700,000. The document outlines the bonding requirements that must accompany all bids submitted for this project. Bidders are required to submit a guaranty with their bid confirming their commitment to execute and furnish a performance and/or payment bond within ten days following contract award and receipt of the performance/payment bond application form.

Guaranty submissions may take 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 for 5% of the total bid amount. If a successful bidder submits a bank cashier's check as guaranty, Harris County reserves the right to either hold the check until all contract provisions are completed or require submission of a formal performance and/or payment bond. The required performance and/or payment bond must be executed by a surety company authorized to conduct business in the State of Texas and equal the full contract value unless otherwise specified. Completed bond forms and related documents must be submitted to the Harris County Office of the Purchasing Agent at 1111 Fannin Street, 12th Floor, Houston, TX 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 before any contract payments will be made.