5-Bid Guaranty and Performance.pdf

This is a Bid Guaranty and Performance/Payment Bond Requirements document for Harris County, Texas, related to a Nuclear Medicine Renovation & Systems Upgrade project at Ben Taub Hospital for Harris Health with an estimated budget of $4,000,000. The document outlines the mandatory financial guaranties that bidders must submit with their proposals to demonstrate financial commitment and ensure contract performance. Bidders are required to submit a guaranty 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 value. 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 unless otherwise specified and must be executed by a surety company authorized to conduct business in Texas. Harris County will accept only the prescribed performance/payment bond application form, which is available through the Harris County Office of the Purchasing Agent located at 1111 Fannin Street, 12th Floor, Houston, Texas 77002. All bond documentation must be returned to this office within ten days of award, or Harris County reserves the right to render the award ineffective. If the successful bidder submits a bank cashier's check as the initial guaranty, Harris County may either hold the check until contract completion or require submission of a performance and/or payment bond. Written verification of bond validity from the contractor's surety must be received by the Purchasing Agent's office before any contract payments will be released.