The New Mexico Unemployment Compensation Bond is required by the Department of Workforce Solutions. The bond ensures that the bondholder will timely pay any and all payments and prepayment penalties, according to the terms of Section 51-1-13, NMSA 1978.
There is no set amount for the surety bond. The amount can be calculated using the Surety Bond Transmittal form.
Any employing unit, subject to the said Act, who elects to make payments in lieu of contributions to the Unemployment Compensation Trust Fund. They must request written approval by completing the Election of Employer’s option to become liable for payments in lieu of Contributions form.
At Surety1 we will get you bonded quickly. You can be assured of the lowest rates as we have partnered with over a dozen A-rated surety markets. We have friendly agents who are willing to answer all your queries and give you only the best service.
First, start the process by using our easy to navigate, free online application form. Then, after your application has been submitted, one of our surety agents will contact you with a no-obligation quote on the bond premium. After that, once you are ready to move forward, you just need to pay the premium and sign the agreement. Lastly, your bond will be mailed to you by USPS Priority Mail. Overnight delivery is also available for an additional fee.
Surety1 has been issuing surety bonds in the New Mexico since 2003. We are licensed in all 50 states to help with all your bonding needs. And, we continue to be rated A+ by the Better Business Bureau for our outstanding service.
Call us toll free at 877-654-2327. We have surety bond agents available Monday – Friday, 8:00 – 4:30 PST. We’re happy to help.