Join the over 5000 companies that trust Contractors Bonding Service for their bonding needs.
Whatever your construction bonding needs, we’ve got you covered!
Contractors Bonding Service serves the needs of New Mexico’s plumbing, heating and ventilation, electrical, and building contractors with a wide range of products, including:
- Instant Issue Bonds
- Bid Bonds
- Payment/Performance Bonds
- Fiduciary Bonds
- Erisa Bonds
- Janitorial Service Bond
To get in touch with one of our bonding professionals, please contact our office by email, call (505) 883-3885, or fill in the form below.
Performance Bond – A performance bond, also known as a contract bond, is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor.
Payment Bond – A payment bond is a surety bond posted by a contractor to guarantee that its subcontractors and material suppliers on the project will be paid. They are required in contracts over $35,000 with the Federal Government and must be 100% of the contract value. They are often required in conjunction with performance bonds.
Bid Bond – A bid bond is issued as part of a supply bidding process by the contractor to the project owner, to provide guarantee, that the winning bidder will undertake the contract under the terms at which they bid.
Surety Bond – A surety bond is defined as a contract among at least three parties: the obligee: the party who is the recipient of an obligation. the principal: the primary party who will perform the contractual obligation. the surety: who assures the obligee that the principal can perform the task.
Fiduciary Bond – An insurance bond that assures the faithful performance of a fiduciary. Since a fiduciary is a position of trust, a bond is executed to protect the person for whom the fiduciary acts against fraud and embezzlement.