5-Bid Guaranty and Performance.pdf

This is a Bid Guaranty and Performance/Payment Bond Requirements document for Harris County, Texas, applicable to the Installation of Solar Lighting along Sidewalks of Freeport Street for Harris County Precinct 2 (UPIN No: 23102MF2Y601). The document outlines the mandatory financial guarantees that bidders must submit with their bids to demonstrate their commitment to executing the contract if selected. Bidders are required to submit either an individual bid bond or a bank cashier's check, both payable to Harris County, in an amount equal to 5% of the total bid value for each separate bid submission.

Upon contract award, the successful bidder must execute and furnish a performance and/or payment bond within ten days of receiving the performance/payment bond application form from Harris County. The performance and/or payment bond must be executed by a surety company authorized to conduct business in the State of Texas and shall be in an amount equal to the total contract value unless otherwise specified. If a bank cashier's check is submitted as the initial guaranty, Harris County reserves the right to either hold the check until contract completion or require the contractor to obtain a performance and/or payment bond. All performance and/or payment bond 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, or the award becomes ineffective. Written verification of bond validity from the contractor's surety must be received by the Purchasing Agent's office before any contract payments are authorized.