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How much do New Mexico contractor bonds cost?
Most New Mexico contractor bond types cost $100 annually with the exception of the Construction Industries Division Contractor License Code Bond, which costs $250 annually. You can also save money by choosing our multi-year discount to extend your contractor license bond term during checkout.
How do I get a contractor bond in New Mexico?
You can purchase your New Mexico contractor bond online 24/7. Simply select the bond required by your licensing authority from the dropdown above or the table below. Your licensing authority determines information required for filing approval, but you typically need to provide your contractor or construction company name, physical business address, and license type. Once your order has been processed, your New Mexico surety bond confirmation will be sent to your email.
How long will it take to get your contractor license bond?
Our industry-leading technology and responsive customer service team allow us to deliver your official New Mexico contractor bond faster than any other surety provider. Orders placed by 4 PM CST Monday-Friday are processed with same-day emailed contractors license bond delivery. If your licensing authority requires your official construction contractors bond to be physically issued and delivered to you, we'll ship it to your preferred mailing address.
If you have questions about New Mexico construction contractors bonds, call 1(800)308-4358 to speak with a friendly surety expert. We're here to guide you through the construction bond process so you can get back to running your business.
What is a New Mexico contractor bond?
“New Mexico contractor bond” is a term used for the various surety bonds required for state or local contractor licensing. Your exact contractor license and surety bond requirements will vary depending on your licensing authority, the type of work you do, and where you work. Each separate bond form outlines its own terms and obligations and must be filed with its respective government authority. Generally they're used to protect the licensing agency and consumers from damages resulting from a bonded contractor's noncompliance.
Why are contractors required to be bonded in New Mexico?
By filing a surety bond for your New Mexico contractor license, you agree to comply with any laws outlined on your bond form and complete your construction work according to relevant codes. If you fail to do so, your issuing surety company will pay valid claims up to your full surety bond amount, which you must reimburse. If you fail to maintain your New Mexico contractor license bond, your license can be revoked.
Who is required to get a New Mexico contractor license bond?
The New Mexico Construction Industries Division (CID) requires a specific New Mexico contractor license bond form for state contractor licensing. Depending on the type of work you do, you might also need one of the following construction bond types for additional professional licensing.
- CID crossover contractor consumer protection bond
- Albuquerque excavation contractor bond
- Albuquerque sidewalk, drive-pad, curb, & gutter contractor bond
- Albuquerque water tapper contractor bond
If you need a surety bond for a city or county contractor license requirement not listed, call 1(800)308-4358.
Need a surety bond for a construction project in New Mexico?
New Mexico contractor bonds are required for licensing compliance. If you need a surety bond before you can begin work on an individual contracted project, you might need a bid bond, payment bond, performance bond, or other type of contract bond. If you work in states other than New Mexico, we also offer contractor license bonds nationwide.
How do I update or change my contractor license bond?
If the Construction Industries Division or your city or county requires you to update your bond form, contact your surety company. If you purchased your bond from SuretyBonds.com, email [email protected] to explain the needed change. The most common changes requested are updating your name or address to match your professional licensing.
How do I renew my New Mexico contractors license bond?
You must renew your New Mexico contractor bond before its current term expires. Once you pay your SuretyBonds.com renewal invoice, instructions will be provided to keep your bond active for your next license term.
How do contractors apply for a license in New Mexico?
To apply for your state license with the New Mexico Construction Industries Division, you'll need to complete your New Mexico Application for Contractor License packet and provide all required documents. You can find additional licensing information for other New Mexico contractor license types below.