Singing River Electric utility deposit bonds.
From $100.
When Singing River Electric Power Association asks a new or reconnecting member for a security deposit — commonly $245 on a residential account — a surety bond can stand in for the cash. The cooperative sets the deposit amount for your account; the premium on our bond is 2% of that amount, with a $100 minimum, shown at the application.
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How much does a Singing River 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 the executed bond to the cooperative. Here is the whole thing:
Apply online
Your details, the service address, the deposit amount Singing River Electric set, and the effective date — that is the application.
Issued on the spot
Most applications approve instantly and the executed bond is generated as soon as you pay. No credit check up to $15,000.
File with Singing River Electric
Deliver the executed bond to the cooperative in place of the cash deposit so your service can start or continue. Wet-ink originals mailed on request.
What it is and who needs it.
What the utility deposit bond actually does
Singing River Electric Power Association is the member-owned electric cooperative headquartered in Lucedale, Mississippi, serving tens of thousands of members across several southeast Mississippi counties. Like most utilities, it requires a membership deposit from a new residential member, a member who has not had residential service in the past two years, or an account disconnected for non-payment — commonly $245 on a residential account, plus a small non-refundable connection charge.
A utility deposit bond is a surety bond the cooperative accepts in place of that cash deposit. It guarantees that if you fail to pay your electric bill, Singing River Electric can recover the unpaid amount up to the bond's limit — so you satisfy the deposit requirement without tying up cash.
It is not insurance for you — if the surety pays the cooperative on an unpaid balance, you repay the surety. We issue the amount Singing River Electric set; the premium is 2% of that deposit, with a $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
File with Singing River Electric. Deliver the executed bond to the cooperative in place of the cash deposit so your service can start or continue. 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 Singing River Electric Power Association required — the executed bond is generated instantly, ready to deliver.
Start the application →Common questions.
Other Mississippi bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Utility deposit bond, issued today.
Premium is 2% of the deposit amount, $100 minimum. Enter the deposit Singing River Electric required and keep your cash. Free until issued.