We occasionally provide this service for our Massachusetts public agency clients. We collect the checks, which are made out to the public agency, and then arrange to return the deposits when the sets are returned to us. If they aren't returned, we forward the checks to our clients and they deposit the money.
We number the sets and log in the bidders who pick them up. Our specs stipulate that the sets have to be undamaged based on the assumption that they'll be used by the winning bidder for their subs but most localities aren't inclined to enforce this.
Handling the deposits doesn't relate payments if we generate the printing or contract for it as a reimbursable expense. We bill that to our clients separately.
You should definitely check whether there's any statury constraint in NM statutes. There isn't one in MA and, frankly, I don't see any conflict as long as the clerical service of handling deposits doesn't slip into comingling funds by placing the deposits into your own business accounts.
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Russel Feldman AIA
TBA Architects, Inc.
Waltham MA
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