5-Bid Guaranty and Performance.pdf
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- Attached to
- ITB - Concrete Pavement Repair and Related Items (South Zone) for Harris County Precinct 2 State and local contract opportunity
- Solicitation number
- 26/0113
- Issued by
- Harris County, Texas
About this file
This is a Bid Guaranty and Performance Bond document for Harris County, Texas, establishing financial security requirements for bidders on the Concrete Pavement Repair and Related Items (South Zone) project for Harris County Precinct 2. Bidders must submit a guaranty with their bid in one of two forms: an individual bid bond or a bank cashier's check, each payable to Harris County in the amount of 5% of the total bid price. 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. If a bank cashier's check is submitted as guaranty, Harris County retains the option to hold the check until contract completion or require a separate performance and/or payment bond.
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. Bidders must obtain the prescribed bond application form from Harris County and submit all performance and/or payment bond documents to the Office of the Purchasing Agent at 1111 Fannin Street, 12th Floor, Houston, TX 77002, within ten days of award. Failure to return required documents within this timeframe allows Harris County to render the award ineffective. The contractor's surety must provide written verification of bond validity to the Office of the Purchasing Agent prior to any contract payments being made.
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Text version
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 .