5-Bid Guaranty and Performance.pdf

This is a Bid Guaranty and Performance/Payment Bond Requirements document issued by Harris County, Texas in connection with a Replacement of Radiology Fluoroscopy equipment project at Smiths Clinic for Harris Health with an estimated budget of $922,845. The document establishes mandatory bonding requirements that all bidders must comply with as a condition of bid submission and contract award. Bidders are required to submit a guaranty with their bid demonstrating financial commitment and ability to execute 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 or a bank cashier's check payable to Harris County, both in the amount of 5% of the total bid amount. If a bank cashier's check is submitted as guaranty, Harris County reserves the right to either hold the check until all contract provisions are completed or require the contractor to provide a 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 full contract value unless otherwise specified. All performance and/or payment bond forms and related documents 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 released.