This bond is required for contractors or utility companies that need to cut into or excavate streets in Santa Fe, New Mexico. The city requires this $10,000 bond to ensure that anyone who digs up a street will properly repair and restore it to its original condition. If the work is done poorly or left incomplete, the …
Overview
What it is.
This bond is required for contractors or utility companies that need to cut into or excavate streets in Santa Fe, New Mexico. The city requires this $10,000 bond to ensure that anyone who digs up a street will properly repair and restore it to its original condition. If the work is done poorly or left incomplete, the …
Who usually needs it
Contractors and any person or business (other than franchised utility companies) who wants to make a street cut or perform excavation work in any public place within the City of Santa Fe must obtain this $10,000 payment and performance surety bond as part of their street cut license requirements under City Ordinance 1998-32.
Pricing & timing
What to expect.
Generic pricing
Permit bonds are required for specific activities, construction projects, or business operations. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger permit bonds: Commonly around 1–5% of the bond amount annually. • Credit impact: Good credit: starting around 1–2% · Average credit: typically 2–4% · Credit challenges: often 4–5% or higher. Many common permit bonds qualify for instant approval with no underwriting required. Requirements vary by j…
Typical timeframe
Issuance timeframe varies by bond type and underwriting
Application
What to do next.
Tell us the bond name, state, and amount on your form.
Share business and applicant info so the team can quote it.
Sign and pay; we issue the bond and send you the documents.
Keep your effective date and renewal date on file with us.
Start the application.
You are on the exact bond page. The next step is to start the quick application.
StateNMBond amount$10,000ObligeeCity of Santa Fe, New MexicoBond classPermit BondCategoryOtherBondCity of Santa Fe Street Cut License BondPlain descriptionThis bond is required for contractors or utility companies that need to cut into or excavate streets in Santa Fe, New Mexico. The city requires this $10,000 bond to ensure that anyone who digs up a street will properly …Who needs this bondContractors and any person or business (other than franchised utility companies) who wants to make a street cut or perform excavation work in any public place within the City of Santa Fe must obtain this $10,000 payment…
