Utility deposit bond cost
We Energies in Wisconsin requires certain customers to post a surety bond in lieu of a deposit for utility services. Typically, the required amount of the bond is equal to the amount of the cash deposit request, but applicants should verify their required amount of bond coverage with the utility company prior to bonding.We can issues these bonds for varying prices depending on underwriting criteria.
Why this bond
If a principal (utility customer) does not remain in compliance with We Energies’ rules and regulations and develops an accumulation of unpaid bills for electric services, this bond will be used to compensate We Energies for monies owed to the company. The principal is ultimately required to reimburse the surety for any money paid to the utility company.
A We Energies’ deposit bond should be for two years and in the same amount as the cash deposit request.If We Energies does not receive payments on time, a letter will be sent to the surety to request payment. A utility surety bond cannot be changed without agreement from the customer (principal), the surety and We Energies.
Apply for your surety bond
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