5-Bid Guaranty and Performance.pdf
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- Solicitation number
- 26/0026
- Issued by
- Harris County, Texas
About this file
This is a Bid Guaranty and Performance/Payment Bond Requirements document for Harris County, Texas, related to roadway improvements on Avenue G from Texas Avenue to Allen Genoa Road in South Houston. Bidders must submit a guaranty with each bid confirming their commitment to execute and furnish a performance and/or payment bond within ten days of contract award and receipt of the bond application form. The county will accept the guaranty in one of two forms: an individual bid bond or a bank cashier's check, each payable to Harris County in an amount equal to 5% of the total bid value for each separate bid submission.
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 obtain the prescribed bond application form from Harris County's Office of the Purchasing Agent, located at 1111 Fannin Street, 12th Floor, Houston, Texas 77002, and must return all completed bond forms and related documents within ten days of award; failure to do so renders the award ineffective. Harris County retains the option to hold a cashier's check guaranty until contract completion or to require a separate performance and/or payment bond. The Purchasing Agent's office must receive written verification of bond validity from the contractor's surety before any contract payments are authorized.
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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, TX 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.
File details come from the government source that posted it. Updated .