5-Bid Guaranty and Performance.pdf

This is a Bid Guaranty and Performance/Payment Bond Requirements document issued by Harris County, Texas for a road repair and infrastructure project in the Beaumont Place Area under the BetterStreets2Neighborhoods Community Program for Harris County Precinct 2. All bidders must submit a guaranty with their bid demonstrating their commitment to execute and furnish a performance and/or payment bond within ten days following contract award and receipt of the bond application form from Harris County. The document establishes the baseline requirements for bond submission and contractor compliance prior to project commencement.

Bidders may submit their guaranty in one of two forms: an individual bid bond payable to Harris County or a bank cashier's check payable to Harris County, each in an amount equal to 5% of the total bid amount. If the successful bidder submits a bank cashier's check as guaranty, Harris County retains the option to hold the check until all contract provisions are completed or require the contractor to obtain a performance and/or payment bond. The performance and/or payment bond must equal the total contract amount unless otherwise specified and must be executed by a surety company authorized to conduct business in Texas. All bond forms and related 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 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 before any contract payments will be issued.