Petit Jean Electric deposit bonds.
From $100.
Petit Jean Electric Cooperative, the nonprofit rural electric cooperative headquartered in Clinton, Arkansas, requires new members to post a security deposit before connecting service — and will accept a surety bond in its place. The premium is 2% of the bond amount, $100 minimum, and your exact price appears at the application.
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How much does a Petit Jean Electric deposit bond cost?
2% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No long underwriting queue for a membership deposit bond — enter your amount, pay, and deliver the executed bond to Petit Jean Electric. Here is the whole thing:
Apply online
Your business or household details, the serviced property address, the deposit amount Petit Jean Electric required, and the effective date — that is the application.
Issued
No credit check up to $15,000. Larger deposits may get a quick review, but the standard membership deposit bond moves fast.
Deliver to Petit Jean Electric
Submit the executed bond to the cooperative to satisfy the membership deposit and connect your electric service. Wet-ink originals mailed on request.
What it is and who needs it.
What the utility deposit bond actually covers
Every company, firm, or individual who applies for electric service through Petit Jean Electric Cooperative pays a $20 membership fee, and most new accounts also post a security deposit — $200 for a standard residential account, paid in two installments, or a minimum of $220 for a business account. A surety bond is an accepted alternative to that cash deposit: instead of tying up cash with the cooperative, you post a bond that guarantees the same obligation.
The deposit is refunded, with interest at a rate approved by the Arkansas Public Service Commission, as a credit on your bill after a one-year record of on-time payment. It can also be waived outright if you show a good payment record with another electric utility, or if a member in good standing who has taken service for at least a year signs a third-party guarantee for you.
The bond stands behind your electric charges — if the account goes unpaid and is closed, Petit Jean Electric can recover its loss against the bond, up to the bond amount. It is not insurance for you — if the surety pays the cooperative, you repay the surety. For a member who would rather not leave cash sitting with the co-op, a one-time premium starting at $100 is the cheaper way to satisfy the requirement.
You need this bond if you are
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
Deliver to Petit Jean Electric. Submit the executed bond to the cooperative to satisfy the membership deposit and connect your electric service. Wet-ink originals mailed on request.
What sets the price
The premium is 2% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $15,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, then deliver it.
Submit the application with the serviced property address and the deposit amount Petit Jean Electric set — your exact price appears at the application.
Start the application →Common questions.
Other Arkansas bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Skip the cash deposit.
Premiums from $100. Enter the deposit Petit Jean Electric set, see your exact price before you pay, and deliver the bond the same day.