To purchase the bond please call to (505) 578-2195.
What Is a Permit Bond?
A permit bond (also called a surety bond) is a contract between:
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Your trucking company (the principal)
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A surety company (the issuer of the bond)
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The State of New Mexico (the obligee)
It provides financial security for state agencies — ensuring that if you fail to meet permit requirements or regulatory obligations, the state can recover damages or unpaid fees from the bond.
Permit bonds are common in trucking when carriers:
Apply for certain permits
Haul oversized or overweight loads
Operate with special exemptions
Need financial assurance for taxes (e.g., WDT)
Apply for temporary registration permits
When Does New Mexico Require a Permit Bond?
In New Mexico, permit bonds are generally required for:
1. Commercial Vehicle Permit Applications
Many temporary or special transportation permits (e.g., for oversized loads) require a bond to guarantee compliance with routing, safety, fees and applicable laws.
2. Weight Distance Tax (WDT) Filing
Carriers that owe WDT but lack a qualifying credit history may be asked to post a surety bond guaranteeing future payments.
3. Temporary Registration Permits
Some permits for unregistered or non-resident vehicles require a permit bond to assure the state that registration obligations and fees will be met.
4. Specialized Operations
Certain agricultural, logging or construction permits may also require bonds, depending on route or cargo specifics.
How Much Is a New Mexico Permit Bond?
Bond amounts vary depending on:
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Type of permit
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Estimated annual taxes or fees
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Company’s financial history and creditworthiness
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Bond issuer (surety) underwriting criteria
Common permit bond sizes can range from $5,000 to $100,000 or more — especially for carriers with significant tax exposure or heavy haul operations.
Your surety company will determine the final bond amount based on risk and state requirements.
How to Get a Permit Bond
Step 1 — Contact a Licensed Surety Provider
Work with an insurance broker or surety company licensed to underwrite bonds in New Mexico.
Step 2 — Provide Business Information
Expect to provide:
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Legal business name
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FEIN/EIN
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USDOT number
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Operating authority
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Financial history
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Anticipated permits and estimated fees/taxes
Step 3 — Underwriting & Pricing
The surety reviews your financials and issues a bond premium — typically a percentage of the total bond amount.
Step 4 — State Approval
Submit the bond with your permit application to the appropriate New Mexico state agency, such as:
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New Mexico Taxation and Revenue Department
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New Mexico Department of Transportation permitting division
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Motor carrier services
Once accepted, the bond becomes a compliance requirement for your permit.
Renewal and Duration
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Permit bonds are often annual, matching the permit or tax filing cycle.
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Some bonds remain effective until released by the obligee (state) after obligations are satisfied.
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Ensure timely renewal to avoid permit lapses or enforcement actions.
Compliance and Claim Risks
If a carrier fails to pay required taxes, fees, or comply with permit terms, the state can file a claim against the bond. If the surety pays on your behalf, your company is obligated to reimburse the surety immediately — plus fees and interest.
Common compliance issues include:
Missing tax payments (WDT, permit fees)
Operating without required permits
Failing to follow routing or safety requirements
Tips for Trucking Companies
Shop around for competitive bond premiums
Maintain good financial records and credit
Ensure accurate permit filings to avoid bond claims
Track expiration and renew bonds on time