New Mexico General Contractor Bond
What is a New Mexico contractor license bond?
The New Mexico contractor license bond is a surety bond required by the New Mexico Regulation and Licensing Department's Construction Industries Division (CID). Contractors applying for state licensure in New Mexico must hold a contractor license bond of $10,000 to become licensed and begin work on projects.
How much is a New Mexico contractor license bond?
The premium for a $10,000 New Mexico contractor license bond is $237 for a 3-year term.
The same low rate applies to all bond applicants when purchasing your bond through NNA Surety Bonds because no credit check is required.
How can I get a New Mexico contractor license bond?
You can purchase the bond, also known as a New Mexico contractor license code bond, by clicking here.
Since no credit check is required to purchase this bond, your bond is delivered as soon as we receive your payment and contact information, and all official bond documents are sent to you electronically.
If you have any questions or want more information on getting a surety bond, contact NNA Surety Bonds to speak with one of our agents today.
How does a New Mexico contractor license bond work?
The contractor license bond is a contract between you (the principal), the New Mexico Construction Industries Division (the obligee), and the company issuing you the bond (the surety).
As a contractor, the state of New Mexico requires you to post a surety bond before receiving your license and beginning work. The New Mexico contractor license bond ensures you abide by New Mexico contractor rules and regulations. It also protects the public from any damages caused by poor or negligent workmanship.
What else should I know about New Mexico contractor license bonds?
Getting your contractor license bond is only one important step of the state licensure process. The Electronic Services Portal for New Mexico Contractor Licensing and the New Mexico Regulation and Licensing Department provide further information on how to get your contractor's license in New Mexico.