8-Bid Guaranty and Performance.pdf

This is a Bid Guaranty and Performance/Payment Bond Requirements document issued by Harris County, Texas for the Design, Provide, Remove, and Install Playground Equipment project at Freed Park for Harris County Precinct 4. The document establishes mandatory bonding requirements that all bidders must satisfy to participate in the procurement process. Bidders are required to submit a guaranty with their bids demonstrating their commitment to execute and furnish a performance and/or payment bond within ten days following contract award and receipt of the performance/payment bond application form from Harris County.

Bidders may submit their bid guaranty in one of two forms: an individual bid bond payable to Harris County or a bank cashier's check payable to Harris County, both in the amount of five percent of the total bid amount. Should the successful bidder elect to submit a bank cashier's check as guaranty, Harris County retains the discretion to either hold the check until all contract provisions are completed or require the contractor to furnish a separate performance and/or payment bond. The performance and/or payment bond must be executed by a surety company authorized to conduct business in Texas and must be equal to the full contract amount unless otherwise specified. Harris County requires that all performance and/or payment bond forms and related documents be returned to the Office of the Purchasing Agent at 1111 Fannin Street, 12th Floor, Houston, TX 77002 within ten days of award; failure to meet this deadline renders the award ineffective. Written verification of bond validity from the contractor's surety must be received by the Purchasing Agent's office prior to any contract payments being issued.