6-Bid Guaranty and Performance.pdf
PDF 250 KB Posted
- Attached to
- CSP - Boiler Replacement at Quentin Mease Health Center for Harris Health (Estimated Budget $2, 115, 812)
- Solicitation number
- 26/0021
- Issued by
- Harris County, Texas
About this file
This is a Bid Guaranty and Performance/Payment Bond Requirements document from Harris County, Texas, related to the Boiler Replacement project at Quentin Mease Health Center for Harris Health, with an estimated budget of $2,115,812. The document establishes the mandatory financial guaranty requirements that all bidders must submit with their bids to participate in this procurement opportunity.
Bidders must submit a guaranty in one of two forms: either an individual bid bond or a bank cashier's check, each payable to Harris County in an amount equal to 5% of the total bid amount. Upon contract award, the successful bidder is required to execute and furnish a performance and/or payment bond within ten days of receiving the performance/payment bond application form from Harris County. The performance and/or payment bond must equal the full contract amount and must be issued by a surety company authorized to conduct business in Texas. Harris County reserves the right to hold a cashier's check guaranty until contract completion or to require a formal performance and/or payment bond. If the performance and/or payment bond documentation is not submitted to the Harris County Office of the Purchasing Agent at 1111 Fannin Street, 12th Floor, Houston, Texas 77002 within ten days of award, Harris County may render the contract award ineffective. Additionally, Harris County requires written verification of bond validity from the contractor's surety before any contract payments will be released.
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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, Texas 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 .