How much does a modular home or commercial building certificate bond cost in New Mexico?
The Construction Industries Division of the New Mexico Regulation and Licensing Department requires professionals involved in the construction, assembly or manufacturing of modular structures to be bonded. The required amount of New Mexico modular structure certificate bonds is determined by the type of structure being built. If the applicant exclusively builds residential units, he or she must post a $5,000 bond. If the applicant constructs both residential and commercial structures, the required bond amount is $20,000.
These bonds are subject to underwriting consideration. Don’t let less-than-stellar credit stop you from getting the bond you need! SuretyBonds.com has a history of helping 99% of applicants get bonded quickly, easily and accurately. Apply for a free bond quote now!
Why do I need this bond?
Modular structure certificate surety bonds are put in place to ensure that principals (manufacturers of modular structures) comply with the applicable statutes of the State of New Mexico, the rules, regulations and orders of the Construction Industries Division and the Modular Standards of the State of New Mexico.
Our surety specialists can answer all of your bonding questions. Submit a bond request and one of our experts will get in touch with you to walk you through each step of our fast and easy bonding process.
What’s the fine print?
New Mexico modular structure certificate bonds remain in full force and effect unless otherwise canceled. The surety can elect to cancel the bond by submitting a cancellation request to the Construction Industries Division. Cancellation goes into effect 30 days from the receipt of the request.
How to become a modular structure manufacturer in New Mexico
Modular structure manufacturers, constructors and installers must submit a completed registration application to the Regulation and Licensing Department along with the appropriate fee and surety bond.
In-state manufacturers must be licensed at the GB-02 classification for residential use or the GB-98 classification for residential and commercial use. Out-of-state manufacturers must submit proof of compliance with licensing requirements.
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