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the New Mexico Statutes
2011 New Mexico Statutes
Chapter 13: Public Purchases and Property
Article 1: Procurement, 13-1-1 through 13-1-199
Section 13-1-148: Bid and performance bonds; additional requirements.
Universal Citation:
NM Stat § 13-1-148 (1996 through 1st Sess 50th Legis)
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13-1-148. Bid and performance bonds; additional requirements.
A. Bid and performance bonds or other security may be required for contracts for items of tangible personal property or services as the state purchasing agent or a central purchasing office deems necessary to protect the interests of the state agency or a local public body. Any such bonding requirements shall not be used as a substitute for a determination of the responsibility of a bidder or offeror.
B. As to performance and payment bonds for construction contracts, see the requirements of Section 13-4-18 NMSA 1978.
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