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Alabama Utility Deposit Bonds
Many utility companies in Alabama allow customers to provide a Utility Deposit Surety Bond as an alternative to posting a cash deposit. This bond ensures timely payment of utility bills and helps customers establish service without a large upfront cost. Utility deposit bonds are only available for businesses, you cannot post a bond for a personal residence.
What is an Alabama Utility Deposit Surety Bond and how much does it cost?
A Utility Deposit Surety Bond acts as a financial guarantee between the customer, the utility company, and the surety company. If the customer fails to pay their utility bills, the bond ensures the utility company receives compensation. The bond amount is usually 3 times the average monthly bill amount.
The cost of a Utility Deposit Surety Bond is directly related to the personal credit of the owners of the business. Applicants with satisfactory credit can expect to pay 2% - 5% of the required bond amount annually (with a minimum premium of $100). Applicants with less than stellar credit can expect a higher rate, but we will work to secure the lowest possible rate given your specific situation.
What you need to know about Utility Deposit Bonds
Utility Companies That Allow for a Utility Deposit Surety Bond in the state of Alabama
| Utility Company | Apply for your Bond |
|---|---|
| Alabama Gas Corporation - Utility Deposit Bond | Apply for your Alabama Gas Corp Bond |
| Alabama Power Company - Utility Deposit Bond (Birmingham District) | Apply for your Alabama Power Co Bond |
| Alabama Power Company - Utility Deposit Bond (Eastern Division) | Apply for your Alabama Power Co Bond |
| Alabama Power Company - Utility Deposit Bond (Mobile Division) | Apply for your Alabama Power Co Bond |
| Alabama Power Company - Utility Deposit Bond (Southeast Division) | Apply for your Alabama Power Co Bond |
| Alabama Power Company - Utility Deposit Bond (Southern Division) | Apply for your Alabama Power Co Bond |
| Alabama Power Company - Utility Deposit Bond (Western Division) | Apply for your Alabama Power Co Bond |
| Arab Electric Cooperative - Utility Deposit Bond | Apply for your Arab Electric Co-op Bond |
| Baldwin County Electric Membership Corp - Utility Deposit Bond | Apply for your Baldwin County Electric Bond |
| Birmingham Water Works - Utility Deposit Bond | Apply for your Birmingham Water Works Bond |
| Bessemer Utilities - Utility Deposit Bond | Apply for your Bessemer Utilities Bond |
| City of Athens Utilities - Utility Deposit Bond | Apply for your City of Athens Utility Bond |
| City of Foley Utilities - Utility Deposit Bond | Apply for your City of Foley Utilities Bond |
| Cullman Power Board - Utility Deposit Bond | Apply for your Cullman Power Bond |
| Decatur Utilities - Utility Deposit Bond | Apply for your Decatur Utilities Bond |
| Dothan Utilities - Utility Deposit Bond | Apply for your Dothan Utilities Bond |
| Florence Utilities - Utility Deposit Bond | Apply for your Florence Utilities Bond |
| Huntsville Utilities - Utility Deposit Bond | Apply for your Huntsville Utilities Bond |
| Opelika Power Services - Utility Deposit Bond | Apply for your Opelika Power Services Bond |
| Riviera Utilities - Utility Deposit Bond | Apply for your Riviera Utilities Bond |
| Sheffield Utilities - Utility Deposit Bond | Apply for your Sheffield Utilities Bond |
| Sylacauga Utilities Board - Utility Deposit Bond | Apply for your Sylacauga Utilities Board Bond |
| Generic Utility / Not Listed - Utility Deposit Bond (Use this if you do not see your specific utility bond listed) | Apply for your Utility Deposit Bond |
Can’t find your specific utility company? Don’t worry, you can use our generic utility bond application.
Benefits of a Utility Deposit Surety Bond
Eliminates the need for a large cash deposit.
Provides financial security to utility providers.
Cost-effective alternative to traditional cash deposits.
Dont tie up large amounts of cash for utility deposits, get a Utility Deposit bond instead! Contact us today for your free quote!
How to Get Your Alabama Utility Deposit Surety Bond
Securing your Alabama Utility Deposit Surety Bond is quick and easy. Working with a trusted surety bond providers ensures a straightforward seamless process.
Fast and simple online application
Competitive rates with no hidden fees.
Expert assistance to guide you every step of the way.
Apply for Your Alabama Utility Deposit Surety Bond Today!