Utility deposit bond cost
Utility service providers in Florida require some customers to post a surety bond in lieu of a deposit for utility services on a case-by-case basis. The required bond amount is determined by the utility company, and applicants should verify their required bond amount prior to bonding.
Why this bond
Utility deposit bonds exist to ensure that customers pay all utility bonds on time and in full. This bond is not required by the state, but rather by the utility company itself. Most utility companies require that these bonds be posted before utility services will be provided.
If the customer falls behind on bill payments, the utility company can submit a claim and proof or late payments to the surety company. If the claim is validated, the surety will cover financial losses suffered by the utility company up to the full bond amount. The principal (utility customer) must reimburse the surety for damages paid out.
Utility bonds in Florida all have different cancellation clauses. If the surety decides to cancel this bond, it must notify the utility company prior to cancellation.
The cancellation clause and other pertinent information can be found on the utility company’s specific surety bond form. For non-residential utility customers, our team must know what line of business you need utility services for. Applicants must know their utility account number, which is issued by the utility company.
Apply for your surety bond
Get a FREE Utility Deposit Bond Quote Today! Click here to begin
- Beaches Energy Services
- City of Fort Myers Utilities
- City of New Smyrna Beach Utilities Commission
- City of Tallahassee Utilities
- Duke Energy
- Florida Power and Light
- Fort Pierce Utilities Authority
- Glades Electric Cooperative, Inc.
- Gulf Power
- Ocala Utility Services
- Oskaloosa Gas District
- Progress Energy
- SECO Energy
- TECO Energy
- TECO Peoples Gas
- Withlacoochee River Electric Cooperative, Inc.