New Mexico § 13-1-148 Bid and performance bonds; additional requirements

New Mexico Statutes

§ 13-1-148 — Bid and performance bonds; additional requirements

New Mexico·Ch. 13 Public Purchases and Property·Art. 1 Procurement

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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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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