{"data":{"id":"us-nm/13-1-146","jurisdiction":"us-nm","citation":"13-1-146","heading":"Requirement for bid security.","body":"Bid security shall be required of bidders or offerors for construction contracts when the price is estimated by the procurement officer to exceed twenty-five thousand dollars ($25,000). Bid security in an amount equal to at least five percent of the amount of the bid shall be a bond provided by a surety company authorized to do business in this state, or the equivalent in cash, or otherwise supplied in a form satisfactory to the state agency or a local public body.","path":["Chapter 13 - Public Purchases and Property","ARTICLE 1 Procurement"],"source_url":"https://nmonesource.com/nmos/nmsa-unanno/en/item/18513/index.do","current_through":"2026-07-01","vintage":"","retrieved_at":"2026-09-03T15:02:19Z","sha256":"956fdb85b4ebc778e448332cd6f66dc3d11466830498da8a001e77d5b074964d","source_id":"us-nm","stale":false,"prev":"us-nm/13-1-145","next":"us-nm/13-1-146.1"},"notice":"GroundRules: Original legal text. Not legal advice."}