Cedar Falls utility deposit bonds.
From $100. Skip the cash deposit.
When the Municipal Electric Utility of the City of Cedar Falls (Cedar Falls Utilities) asks a customer for a security deposit, a surety bond can stand in for the cash. The utility sets the amount — pricing runs 2% of the bond amount, $100 minimum, and your exact price appears at the application, so your money stays in your account.
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How much does a Cedar Falls 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 utility. Here is the whole thing:
Apply online
Your business details, the deposit amount the utility required, and the effective date — that is the application.
Issued on the spot
Most applicants approve instantly and the executed bond is generated as soon as you pay. Above $15,000, a soft pull may add a short review.
Deliver to Cedar Falls Utilities
Submit the executed bond to the Municipal Electric Utility of Cedar Falls in place of your cash deposit. Wet-ink originals mailed on request.
What it is and who needs it.
What the utility deposit bond actually does
The Municipal Electric Utility of the City of Cedar Falls — Cedar Falls Utilities — can require a security deposit from a commercial or higher-risk customer before turning on service. The deposit protects the utility against an unpaid final bill. A surety bond is an accepted alternative that lets you keep your cash.
It's a three-party arrangement: you (the principal), the surety carrier, and the Municipal Electric Utility of Cedar Falls (the obligee). If you leave an unpaid balance the utility can recover up to the bond amount, instead of drawing down a cash deposit it was holding.
If the surety pays the utility, you repay the surety — so customers who pay their electric bills never see a claim. The bond amount equals the deposit the utility set; we price it at 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 Cedar Falls Utilities. Submit the executed bond to the Municipal Electric Utility of Cedar Falls in place of your cash 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 Cedar Falls Utilities set — the executed bond is generated instantly, ready to deliver.
Start the application →Common questions.
Other Iowa bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Cedar Falls utility deposit bond, issued today.
Pricing from $100. Enter the deposit amount and keep your cash.