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New Mexico Contractor License Bond

How much does a contractor license bond cost in New Mexico?

The New Mexico Construction Industries Division requires contractors to post $10,000 contractor license surety bonds to legally work within the state.

SuretyBonds.com offers these bonds for 1-year terms for just $100 or for 3-year terms for the discounted rate of $250! There’s no credit check required, so all applicants qualify for the same low rate. Get bonded instantly!

Bond Type Bond Amount Cost*
$10,000 Contractor License Bond 1-Year Term $10,000 $100 Buy Now
$10,000 Contractor License Bond 3-Year Term $10,000 $250 Buy Now
*The bond premium rate quotes provided to you through this website are for pricing comparisons and quotation estimate purposes only. The bond rate quotes provided are based on general assumptions that may or may not be applicable to you and are subject to change at any time. These rate quotes do not constitute an offer of insurance, nor is any contract, agreement, or bond coverage implied, formed or bound by the provision of rate quotes. Bondability, final bond premium rate quotes and an offer of insurance, if any, will be determined by the insurance company providing your bond. You must contact us directly to obtain a quote for binding purposes.

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Why do I need this bond?

New Mexico contractor license bonds obligate the principal (contractor) to comply with all of the requirements of NMSA 1978, Section 60-13-43 and complete all construction work according to the building codes stated in NMAC Title 14, Chapters 7 through 10. If the state finds that the principal has performed construction work violating these terms and the principal fails to correct the work after being given a reasonable opportunity to do so, the surety will cover damages suffered by any consumer as a direct result of the contractor’s actions. The contractor, in turn, must reimburse the surety for damages paid out.

Get the contractor license bond you need instantly when you work with SuretyBonds.com!

What’s the fine print?

The aggregate liability of the surety cannot exceed the penal sum of the bond.

New Mexico contractor license bonds are continuous in form, but the surety can choose to cancel the bond at any time by giving written notice to the Regulation and Licensing Department 30 days prior to the effective date of cancellation or 30 days after the surety receives written notice requesting cancellation from the department.

How to become a contractor in New Mexico

The first step toward obtaining a contractor’s license in New Mexico is to determine the classification of license and/or certificate you need to do the work you’re planning to perform. License classifications are listed in the New Mexico Administrative Code, Title 14 Chapter 6 Part 6, which can be found at the New Mexico Commission of Public Records State Records Center and Archives website.

Applicants must submit the completed packet with the correct application, certificate and license fees. The packet must include:

  • complete contractor license application
  • copy of valid qualifying party certificate, or copy of exam score showing passing scores on exam(s) for application classification(s)
  • proof of financial responsibility
  • proof of current New Mexico Tax ID number application with official stamp or registration certificate
  • self-addressed envelope large enough and with sufficient postage to return your application materials if the application is rejected
  • and more

All licenses remain effective for 3 years from the date of issuance.

Complete licensing information can be accessed via the Additional Resources section of this page.

Begin the licensing process by getting the surety bond you need now!

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Additional Resources

How To Obtain A New Contractor License

New Mexico E-Services for Contractor Licensing

Frequently Asked Licensing Questions

New Mexico Licensing Fees

Contractor Industries Division Contractor License Code Bond

Article 13 Construction Industries Licensing Act NMSA 1978 60-13-1 through 60-13-59

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