5-Bid Guaranty and Performance.pdf

This is a Bid Guaranty and Performance Bond Requirements document issued by Harris County, Texas, in connection with a Cardiac Care Unit (CCU) & Acute Care Unit Renovation project at Ben Taub Hospital for Harris Health, with an estimated budget of $5,400,000. The document outlines the mandatory guaranty requirements that must accompany all bids submitted for this project. Bidders are required to submit a guaranty with their 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 guaranty may be submitted in one of two forms: an individual bid bond payable to Harris County for 5% of the total bid amount, or a bank cashier's check payable to Harris County for 5% of the total bid amount.

The performance and/or payment bond must be issued by a surety company authorized to conduct business in the State of Texas and must equal the full contract amount unless otherwise specified. If the successful bidder submits a bank cashier's check as guaranty, Harris County reserves the right to either retain the check until all contract provisions are completed or require submission of a formal performance and/or payment bond. The prescribed bond application form must be obtained from Harris County and is the only form acceptable for submission. All performance and/or payment bond documents must 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 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 issued.