5-Bid Guaranty and Performance.pdf
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- Attached to
- ITB – Rehabilitation of Channels within Addicks Reservoir for the Harris County Flood Control District
- Solicitation number
- 25/0303
- Issued by
- Harris County, Texas
About this file
This document is a Bid Guaranty and Performance/Payment Bond Information and Requirements document for Harris County, Texas. The document outlines the guaranty requirements for bidders on county contracts, specifically mandating that each bid must include a guaranty that the bidder will execute a performance and/or payment bond within ten days after contract award. Bidders have two options for submitting the guaranty: an individual bid bond payable to Harris County for 5% of the total bid amount, or a bank cashier's check for the same percentage.
The bond requirements stipulate that the performance and/or payment bond must be equal to the total contract amount and executed by a surety company authorized to do business in Texas. Harris County reserves the right to hold the cashier's check until contract completion or require a performance bond. If the required bond forms and related documents are not returned to the Harris County Office of the Purchasing Agent within ten days, the county can render the award ineffective. Written verification of bond validity from the contractor's surety is mandatory before any payments will be processed, with all documents to be submitted to the Purchasing Agent's office located at 1111 Fannin Street, 12th Floor, Houston, TX 77002.
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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 .