Prairie Land Electric deposit bonds.
From $100.
Prairie Land Electric Cooperative, Inc. can require a member to post a security deposit to guarantee payment of electric bills. Under the Cooperative's own Rules and Regulations, Section 3, a non-residential member may post a surety bond instead of tying up cash. Premiums cost 2% of the bond amount, $100 minimum.
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How much does a Prairie Land 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 the standard utility deposit bond — enter your amount, pay, and file with the Cooperative. Here is the whole thing:
Apply online
Your business details, the service address, the deposit amount Prairie Land Electric Cooperative set, and the effective date — that is the application.
Issued
No credit check up to $15,000, and most applications approve instantly. Pricing is 2% of the bond amount, $100 minimum.
File with the Cooperative
Submit the executed bond to Prairie Land Electric Cooperative to satisfy the deposit requirement on your account. Wet-ink originals mailed on request.
What it is and who needs it.
What the utility deposit bond actually covers
Prairie Land Electric Cooperative, Inc. — headquartered in Norton, Kansas and first certified to operate as a utility by the Kansas Corporation Commission in 1938 — is a member-owned, not-for-profit rural electric cooperative serving 18 Northern Kansas counties. Like most utilities, it can ask a member to post a security deposit to guarantee payment of electric bills, whether at application for new service or later if a member falls behind, defaults on a payment plan, or is reconnected after disconnection for non-payment.
This is a requirement of the Cooperative's own board-adopted Rules and Regulations, not a Kansas statute that names this specific bond. Section 3.B of those Rules caps the deposit at a member's projected average two months' bills for residential and small non-residential members, or the largest two months' bills for other members, calculated from billing history, expected length of service, and comparable members' consumption. Section 3.D.8 lets a non-residential member post a surety bond, irrevocable letter of credit, or written guarantee from a credit-approved party instead of cash.
The bond backs the same obligation a cash deposit would: if the member's electric bill goes unpaid, the Cooperative can draw against it. It is not insurance for the member's business — if the surety pays a claim, the member repays the surety. Enter the deposit figure the Cooperative calculated for your account; we price the bond at 2% of that amount, $100 minimum, and no credit check up to $15,000.
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
File with the Cooperative. Submit the executed bond to Prairie Land Electric Cooperative to satisfy the deposit requirement on your account. 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, no credit check up to $15,000.
Submit the application with the deposit amount Prairie Land Electric Cooperative set for your account. Most applications approve instantly.
Start the application →Common questions.
Other Kansas bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Skip the cash deposit on your electric account.
Priced at 2% of the amount, $100 minimum. Enter the figure the Cooperative set and file with Prairie Land Electric the same day.