5-Bid Guaranty and Performance.pdf
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- Solicitation number
- 26/0002
- 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 the MRI Scan Equipment Replacement and MRI Suite Renovation project at Smith Clinic for Harris Health, with an estimated budget of $1,924,067. The document outlines the mandatory guaranty requirements that must accompany each bid submission. Bidders are required to submit either an individual bid bond or a bank cashier's check, each payable to Harris County and equal to 5% of the total bid amount. The successful bidder must execute and furnish a performance and/or payment bond within ten days after contract award and receipt of the performance/payment bond application form from Harris County.
The performance and/or payment bond must equal the full contract amount and must be executed by a surety company authorized to conduct business in the State of Texas. Harris County requires that the prescribed performance/payment bond application form and all related documents be returned to the Harris County Office of the Purchasing Agent at 1111 Fannin Street, 12th Floor, Houston, Texas 77002 within ten days of award, or the award becomes ineffective. If the successful bidder submits a bank cashier's check as guaranty, Harris County retains the discretion to hold the check until contract completion or to require submission of a separate performance and/or payment bond. Written verification of bond validity must be received 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, Texas 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 .