Surety 2000 Internet Bid Bonding Coming To New Mexico
The New Mexico Department of Transportation (NMDOT) is transitioning to two-way electronic bid transactions. The purpose of the Surety 2000 system is to provide a more efficient method for contractors to protect their bid security, eliminate erroneous bid disqualification, and to discourage fraud. All NMDOT admitted sureties and surety agents are authorized to use the Surety 2000 system.
NMDOT, in conjunction with Bid Express® , will be using the Surety2000.com website to validate the contractors' bid bonds. It will be the bonding agents job to access Surety 2000 prior to the bid letting and request a bid bond for each project that the contractor is bidding. The validation of a bid bond will be in the form of an eleven-digit code. The bonding agent must pass this eleven-digit code to the contractor, who in turn includes it with their bid submittal.
Surety 2000 is an Internet-based surety processing, verification and security system, developed in cooperation with the surety industry. Contractors and Surety Agents may contact Surety 2000 toll-free at: 1-800-660-3263 or visit our website at www.surety2000.com for more information.
"NMDOT would like to invite and encourage all bidders to participate in the transition program. If you are interested in using internet bid bonding, please encourage your bonding agent to contact Surety 2000. There is no special software or hardware required to use this internet based system. Internet Bid Bonding will automate and streamline a very paper intensive portion of our business, thereby helping all contracting parties."
For more information, please call Lisa Clemens at 1-800-660-3263.