Cost: $237 ( 1 Year )
As a contractor in the State of New Mexico, you are required to be licensed by the State. Unlicensed contracting is illegal in the State of New Mexico. Your first step in becoming licensed is to possess a New Mexico Contractors License Bond.
Bonds Express offers an New Mexico Contractors License Bond with a 100% approval rate.
Beginning September 1, 2022 state requires the bond to run concurrently with the contractors license. Bond effective date should be the same month at the license effective date. We will be requesting a copy of the license to ensure it matches the state’s requirements.
Please refer to New Mexico Code, Construction Industries Licensing Act, NMSA 1978, Section 60-13-3 for more information about how New Mexico defines contractors and contracting work.
The New Mexico Contractors License Bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. These bonds hold you accountable for your business decisions.
By possessing a New Mexico Contractors License Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.