Construction Industries Division Contractor License Code Bond printable pdf download

CONSTRUCTION INDUSTRIES DIVISION

CONTRACTOR LICENSE CODE BOND

BOND NUMBER: _______________

KNOW ALL MEN BY THESE PRESENTS: that ________________________________________________,

(Company name as licensed), and ___________________________________________, a surety company

organized under the laws of the state of ______________________, which is duly authorized to do business in

the state of New Mexico, (Surety), are both held and firmly bound unto the State of New Mexico, Regulation and

Licensing Department, (Obligee), in the penal sum of Ten Thousand Dollars and no cents ($10,000.00), lawful

money of the United States of America, for the payment of which sum, well and truly to be made, the Principal

and the Surety hereby bind themselves, their executors, administrators, successors and assigns, firmly by these

presents.

THE CONDITION OF THIS OBLIGATION IS that, whereas the Principal has applied for a license to engage in

contracting in the State of New Mexico, and submits this bond to comply with the requirements of NMSA 1978,

Section 60-13-49, effective July 1, 2009, which statute is incorporated herein as though fully set forth.

NOW, THEREFORE, if Obligee finds that Principal has performed construction work in which a violation of an

applicable building code, as set forth in NMAC Title 14, Chapters 7 through 10, has occurred, and that Principal

after being given a reasonable opportunity to cure such violation, fails to do so, and if the Obligee certifies such

failure to Surety, and Surety shall indemnify any consumer who incurs monetary harm as an actual and direct

result of the certified uncorrected violation against only such loss within Forty Five (45) days of receipt by the

Surety of the documents required to be submitted by consumer to Surety pursuant to NMAC Title 14, Chapter 6,

Part 7.

It is understood and agreed that: the aggregate liability of the Surety shall not exceed the penal sum of this bond;

this bond is continuous in form; and, if the Surety so elects, this bond may be cancelled by the Surety upon thirty

(30) day’s written notice to Obligee, or thirty (30) day’s after Surety’s receipt of Obligee’s written request

therefore. No action may be commenced on this bond after two (2) years from the earlier of: the date on which the

final inspection of the work in which the code violation occurred was performed by the jurisdiction having code

enforcement authority; or the issuance date of a certificate of occupancy for the project in which the code

violation occurred.

SIGNED and DATED this _________ day of ____________, ________.

Principal Name

Surety

By:

Name & Title

Attorney-in-Fact

Name of local Agency issuing bond:

_____________________________

Address:

_____________________________

Phone:

_____________________________

Email:

_____________________________

Power of attorney must accompany the bond

New Mexico Regulation and Licensing Department

CONSTRUCTION INDUSTRIES DIVISION

Construction Industries Division Contractor License Code Bond

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