Ashton Agency has a 99% approval rate and offers the bond required for New Mexico contractors at some of the most competitive rates available. Let us save you money!
Who needs a general contractor bond?
Any contractor in the State of New Mexico who performs new home construction, commercial work and residential remodel work is required to obtain a $10,000 General Contractor Bond to be in compliance with the Construction Industries Licensing Act, NMSA 1978, Section 60-13-3. General contractors that oversee new home construction or perform residential work greater than 25% of the value of the structure being altered must obtain a residential contractor endorsement.
Don't know which type of contractor bond you need?
A general contractor can perform or supervise numerous building trades or crafts. A specialty contractor, on the other hand, can perform one building trade or craft. A list of specialty classifications may be reviewed here.
What is the general contractor bond?
The general contractor bond protects the party requesting the surety bond, the Obligee, against any financial losses as a result of poor financial choices, damages, unethical decisions, or a failure to adhere to state and local laws on the part of you, the Principal. By obtaining your contractor bond, you are telling the Obligee that you can be trusted and that you stand by your business decisions. The bond is filed for the benefit of consumers who may suffer damages as a result of defective construction or other license law violations, and for the benefit of employees who have not been paid wages that are due to them.
The New Mexico contractor bond is also known as: general contractor bond, specialty contractor bond, and contracting bond.
What else do I need besides the bond?
Ashton Agency can write your liability coverage too. Contact us today at (800) 452-2663 for a free, no-obligation quote on both your bond and insurance!
To learn more about the New Mexico Regulation & Licensing Department, click here.
I have my bond and insurance.. What now?
Contractors will submit the original signed bond form with all other licensing documents to the New Mexico Regulation and Licensing Department..
Get Bonded Within One Business Day!
Only Ashton Agency can provide you with:
Everyone needs a contractor bond, but by contacting the Ashton Agency, you can be sure you'll be getting the best price available, not to mention our stellar customer service and insider knowledge of the construction industry. We've been helping contractors get bonded for more than 45 years. Let us put that experience to work for you today!
Call us now at (800) 452-2663 for a free quote and we will contact you within 24 hours. We can assist you over the phone to ensure you receive your bond quickly and easily!
Don't have time to speak on the phone? Please fill out our easy online application and fax to (503) 253-1353. We can get you started right away!