7-Bid Guaranty and Performance.pdf
PDF 142 KB Posted
- Attached to
- ITB - Generator Rental Services and Related Items for Harris County Office of the County Engineer
- Solicitation number
- 25/0228
- 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, outlining the bonding requirements for bidders on county contracts. Bidders must submit a guaranty with each bid in the form of either an individual bid bond or a bank cashier's check, each representing 5% of the total bid amount. The successful bidder must execute and furnish a performance and/or payment bond within ten days of contract award, using the prescribed application form from Harris County.
The performance and payment bond must be equal to the total contract amount and executed by a surety company authorized to do business in Texas. Harris County retains the right to render the award ineffective if the required bond forms and documents are not returned within ten days to the Office of the Purchasing Agent at 1111 Fannin Street, 12th Floor, Houston, TX 77002. Additionally, written verification of bond validity from the contractor's surety is required before any contract payments will be processed.
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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 .