Statutes > New Mexico Statutes > Chapter 13 - Public Purchases and Property. > Article 1 - Procurement, 13-1-1 through 13-1-199. > Section 13-1-186 - Assistance to small business; bid bonds; reduction.

Section 13-1-186 - Assistance to small business; bid bonds; reduction.

13-1-186. Assistance to small business; bid bonds; reduction.

The state purchasing agent or central purchasing office may reduce bid bond, performance bond or payment bond requirements authorized by the Procurement Code [13-1-28 NMSA 1978] to encourage procurement from small businesses.