Contract Bonds
Defined in the New MexicoDOT standard specifications. This is the agency’s own text, with the section it comes from.
Definitions are quoted from state-authored public specification books. This page carries no I-Code-derived terms.
New Mexico · NMDOT
The approved form of security executed by the Contractor and the Contractor’s Surety or sureties. The performance bond guarantees complete execution of the Contract and all Change Orders pertaining thereto, and the payment bond guarantees payment of all legal debts pertaining to the co nstruction of the
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