City of Rio Rancho - New Mexico Contractor's Excavation License Bond
Flat Rates & No Credit Check
| Bond Amount Required | Bond Term | Annual Premium |
| $10,000 | 1 Year | $100 |
Contractors performing excavation or construction work within public rights-of-way in Rio Rancho, New Mexico, must meet city requirements before digging, cutting or otherwise disturbing streets, sidewalks, utilities or other public property. The City of Rio Rancho requires the contractor's excavation license bond to help ensure contractors comply with applicable excavation requirements and properly repair and restore public property affected by their work.
Cost of the City of Rio Rancho Contractor's Excavation License Bond
The cost of the $10,000 City of Rio Rancho contractor's excavation license bond is $100 per bond term with NNA Surety. Secure this surety bond today.
How the Rio Rancho Contractor's Excavation License Bond Works
The Rio Rancho contractor's excavation license bond helps ensure contractors complete excavation work according to applicable city requirements and restore affected streets, sidewalks, utilities and other public areas. The bond provides financial protection if a contractor fails to meet covered repair or restoration obligations after completing excavation work.
The bond involves three parties:
- Principal: Contractor performing excavation work
- Obligee: City of Rio Rancho, New Mexico
- Surety: Bonding company
A claim against the bond may be filed if the contractor fails to meet covered obligations, including applicable repair or restoration requirements. The principal is responsible for repaying valid claims paid by the surety.
How to Get the City of Rio Rancho Contractor's Excavation License Bond
Follow these simple steps to get bonded with NNA Surety:
- Complete this short online application.
- Pay the $100 bond premium.
- Receive the bond form via email.
- Download and file the bond as required by the City of Rio Rancho.
Learn more about your New Mexico surety bond options across the state.
Get Your City of Rio Rancho Contractor's Excavation License Bond
Meet your Rio Rancho excavation requirements by securing your $10,000 contractor's excavation license bond. Complete this form or call 855-457-2196 to get bonded.