Fort Payne Improvement Authority deposit bonds.
From $100. Enter your amount.
Instead of paying cash as a security deposit to the Fort Payne Improvement Authority — the municipal utility board that supplies electric and water service in Fort Payne and surrounding DeKalb County — an applicant for service can post a surety bond for the same amount. The Authority's Rules and Regulations accept payment "by cash, check, money order, or security bond," and set commercial and industrial deposits at twice the average bill for a comparable business over the prior twelve months; the premium on the bond is 2% of the bond amount, $100 minimum. Enter your amount below for your exact price.
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Apply to filed in one sitting.
No underwriting queue for the standard utility deposit bond — enter your amount, pay, and file with the Authority. Here is the whole thing:
Apply online
Your account or business details, the deposit amount the Fort Payne Improvement Authority set, and the effective date — that is the entire application.
Issued on the spot
Most applicants have the bond generated as soon as they pay, no waiting. The application collects no credit information; if a check ever runs on a larger amount, it is a soft pull that never touches your score.
File with the Authority
Submit the executed bond to the Fort Payne Improvement Authority in place of the cash deposit on your account. Wet-ink originals mailed whenever the Authority insists.
What it is and who needs it.
What the utility deposit bond actually covers
The Fort Payne Improvement Authority is a municipal utility board, incorporated in 1940, that supplies electric and water service inside Fort Payne and parts of surrounding DeKalb County. Its published Rules and Regulations require applicants for service to post a security deposit as a guarantee of payment, and expressly allow that deposit to be satisfied "by cash, check, money order, or security bond" — for residential or non-residential accounts alike.
For commercial and industrial accounts, the deposit is set at twice the average utility bill for the same or similar business over the preceding twelve months; where no comparable billing history exists, the Authority estimates the figure from information the applicant provides. Residential deposits are instead scaled to a credit-score band, and cannot exceed twice the customer's highest monthly bill.
The bond is a payment guarantee in lieu of the cash deposit — it stands behind the electric or water charges on your account rather than insuring you. If the account goes unpaid, the Authority can claim against the bond instead of a cash deposit, and if the surety pays, you repay the surety. Enter the deposit figure on your account notice and your exact price appears at the application.
You need this bond if you are
One application, issued on the spot.
Submit the application with the deposit amount the Fort Payne Improvement Authority set — the executed bond is generated instantly, ready to file in lieu of the cash deposit.
Start the application →Common questions.
Other Alabama bonds.
Utility deposit bond, issued today.
Premiums from $100 — your exact price appears at the application. Enter the deposit the Authority set and file the same day.