What a maintenance bond is
A maintenance bond, also called a warranty bond, guarantees your finished work is free of defects in materials and workmanship for a set period, often one or two years. Sometimes it's built into the performance bond; sometimes the owner wants it separately.
In New Mexico
New Mexico's public works bonding statute (NMSA § 13-4-18) requires only performance and payment bonds for contracts over $25,000; it does not mandate a separate maintenance or warranty bond. NMDOT Standard Specifications (sections 103.6 and 106.10) may require a warranty bond tied to specific highway bid items, but that requirement is imposed by contract, not statute. The $10,000 contractor license bond (NMSA § 60-13-49; 14.6.3 NMAC) covers certified code violations for up to two years after final inspection but is a license bond, not a standalone maintenance bond.
- The $10,000 contractor license bond under NMSA § 60-13-49 / 14.6.3 NMAC covers code violations within two years of final inspection but is not classified as a maintenance bond.
You need this bond if you're
- A contractor finishing public works with a warranty period
- A site contractor handing improvements over to a city or county
- Paving, concrete, roofing and landscaping contractors
- A developer whose subdivision bond is being released
What the surety looks at
Your business, credit and the finished project. Often handled together with the performance bond.