4-Bid Guaranty and Performance.pdf

This is a Bid Guaranty and Performance/Payment Bond Requirements document for Harris County, Texas, related to a Competitive Sealed Proposal for Room Upgrade and Gamma Camera Replacement at Lyndon B. Johnson Hospital for Harris Health, with an estimated budget of $320,225. All bidders are required to submit a bid guaranty with their proposal, with the guaranty to remain valid until the successful bidder executes and furnishes a performance and/or payment bond within ten days after contract award and receipt of the bond application form.

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 equal to 5% of the total bid amount. If a bank cashier's check is submitted as guaranty, Harris County reserves the right to hold the check until contract completion or require the contractor to obtain a performance and/or payment bond. The performance and/or payment bond must equal the full contract amount unless otherwise specified and must be executed by a surety company authorized to conduct business in Texas. Bidders must use only the prescribed bond application form provided by Harris County's Office of the Purchasing Agent, located at 1111 Fannin Street, 12th Floor, Houston, Texas 77002. Failure to return completed bond forms and related documents within ten days of award will render the contract award ineffective. Written verification of bond validity from the contractor's surety must be received by the Office of the Purchasing Agent before any contract payments are authorized.