Compliance bonds assure the obligee that the principal will conduct business in a normally acceptable manner and/or according to specific written standards such as a building code. Code Compliance Bonds are REQUIRED FOR ALL NEW MEXICO LICENSED CONTRACTORS regardless of field, or specialty.

WHAT ARE THE CHANGES TO THE

LICENSE BOND?
As of July 1, 2009 there is no longer a License Bond, it is a Code Compliance Bond. The Code Compliance Bond replaces the License Bond and has a Penalty Sum of $10,000. It is a three year continuous bond, that continues until either you, or the bonding company cancels it. The new bond is an unlimited bond with no minimum or maximum amounts.

Code compliance bonds are an automatic issue bond, there is no credit application required. Just give us a call and we can issue the bond instantly.

Be sure to ask about a special student discount for former students of Construction Seminars.

Click here to receive more information on Code Compliance Bonds