Mississippi utility deposit bonds, northcentral electric cooperative.
From $100.
Northcentral Electric Cooperative, the member-owned electric cooperative headquartered in Olive Branch, Mississippi, lets a member post a surety bond in place of a cash security deposit for electric service. It is a cooperative membership requirement, not a state or municipal one. Premiums cost 2% of the bond amount, $100 minimum.
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How much does a Mississippi 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.
A cooperative deposit bond is one of the simplest bonds we issue — enter your amount, pay, and send the executed bond to the co-op. Here is the whole thing:
Apply online
Your details, the property the service covers, and the deposit amount the cooperative set — that is the application. No credit check up to $15,000.
Issued on the spot
No credit check up to $15,000. Larger amounts may get a quick review before the surety confirms coverage.
Send it to the cooperative
Your executed bond arrives by email, ready to send to Northcentral Electric Cooperative in place of the cash deposit it would otherwise hold. Wet-ink original mailed on request.
What it is and who needs it.
What the utility deposit bond actually does
Northcentral Electric Cooperative is a not-for-profit, member-owned electric distribution cooperative headquartered in Olive Branch, Mississippi, delivering TVA-generated power to parts of DeSoto, Marshall, Tate, and Lafayette counties. Under its own Bylaws, a membership application "shall be accompanied by any service security deposit, service connection deposit or fee, facilities extension deposit, or contribution in aid of construction that may be required by the Cooperative" — an amount the Board of Directors fixes, not a figure set by state law.
A utility deposit bond is a surety alternative to that cash deposit. Instead of tying up cash with the cooperative, the member pays a one-time premium and the surety guarantees the deposit amount to Northcentral. If the account closes with an unpaid balance, the co-op can claim against the bond up to the bonded sum; the surety then seeks reimbursement from the member. It frees up cash the co-op would otherwise hold, often for the life of the account.
The cooperative — not any Mississippi statute or agency — decides whether a deposit applies and how large it is, based on the member's service class or payment history. We price the bond from a $100 minimum at 2% of the amount Northcentral names, 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
Issued on the spot. No credit check up to $15,000. Larger amounts may get a quick review before the surety confirms coverage.
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.
These are the actual issuing fields. No credit check up to $15,000.
Start the application →Common questions.
Other Mississippi bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Skip the cash deposit.
2% of the bond amount, $100 minimum. Enter the figure Northcentral Electric set and send it to the cooperative the same day. Free until issued.