13-1-148. Bid and performance bonds; additional requirements.
98 words·~1 min read·
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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.
History: Laws 1984, ch. 65, § 121; 1987, ch. 348, § 13.