Site Work Contract for Contractor - New Mexico 2026

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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin by entering the Contractor's name and address in the designated fields. This identifies who will be performing the work.
  3. Next, fill in the Owner's name and address. This section establishes who is hiring the Contractor.
  4. In the 'SCOPE OF WORK' section, detail all tasks to be performed, including clearing, grading, and any specific requirements outlined in your project plans.
  5. Specify the 'WORK SITE' location clearly to avoid any confusion regarding where the work will take place.
  6. Set timelines for commencement and completion of work under 'TIME OF COMPLETION'. Be realistic about potential delays.
  7. Ensure you include any necessary permits required for your project under 'PERMITS'.
  8. Review sections on payment terms and conditions carefully. Fill out either 'COST PLUS' or 'FIXED FEE' as applicable.
  9. Finally, both parties should sign and date the contract at the bottom to make it legally binding.

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Best Contract Types for Different Project Owners Government Owners: Lump Sum (Fixed-Price Contract) Private Developers: Cost-Plus with Guaranteed Maximum Price (GMP) Corporate Institutional Owners: Cost-Plus with Incentives. First-Time Owners: Lump Sum or Unit Price.
Fixed Price Contract With a Fixed Price Contract, the government agrees to pay you a specific pre-determined price for your product or service. This type of contract is more risky for the contractor as you would be responsible for any cost overruns.
A New Mexico contractor license bond of $10,000 is required for licensing in the state, but contractors are not responsible for paying the full bond amount. The surety company providing the bond charges a small percentage of the bond total, which is typically between 1 and 10 percent of the bond.
A lump sum contract is a suitable if the scope and schedule of the project are sufficiently defined to allow the contractor to fully estimate project costs. In a unit price contract, the work to be performed is broken into various parts, usually by construction trade.
Standard construction contracts should have the following information and clauses: Name of contractor and contact information. Name of homeowner and contact information. Describe property in legal terms. List attachments to the contract. The cost. Failure of homeowner to obtain financing.

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No person shall engage in business of a contractor unless the construction industries commission (division) has issued him a license which covers the type of work to be undertaken. Peck v. Ives, 1972-NMSC-053, 84 N.M. 62, 499 P. 2d 684.
Lump sum contracts (also sometimes known as fixed price contracts) are usually considered the most popular type of contract when it comes to building and engineering agreements, however they do have minor differences.
Bilateral contracts are agreements in which both parties exchange mutual promises to perform certain obligations, making this type of contract the most common in business transactions.

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