Utility Deposit Bond
Utility deposit guarantee surety bonds, also known as Utility deposit bonds, are a financial guarantee to pay for utility services such as electricity, gas, and/or water in the event that the business or individual defaults to the utility company.
Utility deposit bonds are typically used in place of an actual cash deposit. Many businesses post a deposit with the utility company, unaware that they can post a for a small percentage of the deposit amount. Keep your hard-earned money in your pocket and post a Utility Deposit Bond utility Deposit bond for a small percentage of the amount today!
Unlike commercial surety bonds that protect the public, utility bonds protect the utility company by ensuring payment in the event of default by the business owner.
What does a Utility Deposit Bond cost?
Rates vary depending upon the applicant’s personal credit history and the utility company’s requirements. Qualifying accounts can expect to pay between 2%-5% of the bond amount annually. The best way to get an accurate rate quote is to complete our online bond application so we can provide you with a free, no obligation, surety bond quote.
Can I still get a Utility Deposit Bond with Bad Credit?
Since credit is a large part of the underwriting process for most surety bonds, it can be a big concern for those with credit issues when applying for a surety bond. Not to worry! A1SuretyBonds.com has partnered with only the premier surety companies to offer Bad Credit Surety Bonds to those who suffer from credit issues or whose credit is on the mend. Although the premium will be higher due to a lower credit score, we can still get you the bond you need for your situation at the guaranteed lowest rate available.
What you need to know about Utility Deposit Bonds
A1SuretyBonds.com has provided a list of all known utility deposit guarantee bonds through our online application system. Our online application allows you to provide the required information in order to apply for a utility deposit bond on your schedule. Most bonds are approved and issued within the same day the application is completed.
Can’t find your specific utility company? Don’t worry, you can use our generic utility bond application.