Woodruff Electric utility deposit bonds.
From $100.
Instead of leaving a cash deposit with Woodruff Electric Cooperative Corporation to open or hold service at a property, you can post a surety bond for the same amount. The premium is 2% of the bond amount, $100 minimum — enter the deposit figure the cooperative set for your account and the application returns your exact price.
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How much does a Woodruff Electric utility 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 underwriting queue for the standard utility deposit bond — enter your amount, pay, and deliver it to the cooperative. Here is the whole thing:
Apply online
Your entity type, the serviced property address, the deposit amount the cooperative set, and the effective date — that is the application.
Issued on the spot
The application returns your exact price — pay and the executed bond is generated on the spot. Above $15,000, a soft pull may add a short review.
Deliver to Woodruff Electric
Submit the executed bond to Woodruff Electric Cooperative Corporation to satisfy your account deposit. Wet-ink originals mailed on request.
What it is and who needs it.
What the utility deposit bond actually covers
Woodruff Electric Cooperative Corporation is a member-owned, not-for-profit rural electric cooperative headquartered in Forrest City, Arkansas, with district offices serving Cross, Lee, Monroe, Phillips, Prairie, St. Francis, and Woodruff counties. Like most Arkansas electric utilities, it may ask a new or higher-risk account for a deposit before connecting or continuing service — and it will accept a surety bond in place of tying up that cash.
Arkansas Public Service Commission General Service Rules let a utility require a deposit from an applicant to guarantee payment for service, generally capped at no more than two average bills once service has begun, or one average bill if payment is due before service begins, with higher caps allowed only for specific situations such as fraud, tampering, or a prior unpaid account (23 CAR § 455-401, Deposits from Applicants). Separately, Woodruff Electric Cooperative’s own account practice accepts a surety bond in place of that cash deposit.
The bond is a three-party arrangement: you (the principal), the surety carrier, and Woodruff Electric Cooperative (the obligee). If the account goes unpaid and the cooperative would otherwise apply a cash deposit, it can instead recover the unpaid balance against the bond. The bond amount equals the deposit the cooperative set for your account — confirm the figure on your account paperwork and enter it here; the premium is 2% of that amount, $100 minimum.
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 Woodruff Electric. Submit the executed bond to Woodruff Electric Cooperative Corporation to satisfy your account deposit. 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, issued on the spot.
Submit the application with the deposit amount Woodruff Electric set — the executed bond is generated instantly, ready to deliver.
Start the application →Common questions.
Other Arkansas bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Utility deposit bond, issued today.
Premiums at 2% of the bond amount, $100 minimum. Enter the deposit Woodruff Electric set and deliver it the same day. Free until issued.