9-Bid Guaranty and Performance Bond Information and Requirements.pdf
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- Solicitation number
- 25/0162
- 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 bid bond and performance bond requirements for potential contractors bidding on county projects. Bidders must submit a guaranty with their bid, either in the form of an individual bid bond or a bank cashier's check, both payable to Harris County and representing 5% of the total bid amount.
The performance and/or payment bond must be executed within ten days of contract award by a surety company authorized to do business in Texas. The bond amount will be equal to the contract value unless otherwise specified. If the required forms are not returned to the Harris County Office of the Purchasing Agent at 1111 Fannin Street, 12th Floor, Houston, TX 77002 within ten days, the county reserves the right to render the award ineffective. Written verification of bond validity from the contractor's surety is required before any 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.
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