All licensed contractors in New Mexico, including those in General Building (GB-98), Residential Building (GB-2), and Specialty (GS) classifications. Required when: Required as a prerequisite for obtaining or renewing a contractor license. Exemptions: Handyman performing work under $7,200 annually; homeowners working …
Overview
What it is.
All licensed contractors in New Mexico, including those in General Building (GB-98), Residential Building (GB-2), and Specialty (GS) classifications. Required when: Required as a prerequisite for obtaining or renewing a contractor license. Exemptions: Handyman performing work under $7,200 annually; homeowners working …
Who usually needs it
All licensed contractors in New Mexico, including those in General Building (GB-98), Residential Building (GB-2), and Specialty (GS) classifications.
Pricing & timing
What to expect.
Generic pricing
Miscellaneous commercial bonds cover a wide range of business obligations not fitting other categories. Typical Pricing:. • Small bonds (under $25,000): Typically $100–$250 per year (flat fee). • Larger 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. Pricing varies by specific bond type and requirements. Some miscellaneous bonds may price higher depending o…
Typical timeframe
Credit-based approval — varies by bond type
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$10,000Term lengthContinuousObligeeNew Mexico Regulation and Licensing Department, Construction Industries DivisionRenewalThe bond must be maintained to keep the contractor license active. Renewal is typically handled through the surety company, often on a three-year cycle concurrent with the license term.Bond classMiscellaneous CommercialCategoryConstructionBondCode BondStatutory referenceNMSA 1978, § 60-13-49JurisdictionState
