5-Bid Guaranty and Performance.pdf
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- Solicitation number
- 26/0091
- Issued by
- Harris County, Texas
About this file
This document outlines bid guaranty and performance/payment bond requirements for Harris County, Texas contract opportunities. 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 guaranty may be submitted as either an individual bid bond or a bank cashier's check, each payable to Harris County in the amount of 5% of the total bid value. For the related project involving installation and modification of traffic signal systems and related improvements along Fry Road for Harris County Precinct 4, these bonding requirements apply to all submitted bids.
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. Harris County will only accept the prescribed performance and/or payment bond application form provided by the county. If a bank cashier's check is submitted as guaranty, Harris County may either hold it until contract completion or require the contractor to obtain a separate performance and/or payment bond. All performance and/or payment bond documentation must be returned to the Harris County Office of the Purchasing Agent at 1111 Fannin Street, 12th Floor, Houston, TX 77002 within ten days of award, or Harris County reserves the right to render the award 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.
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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 .