New York Central Hudson utility deposit bonds.
From $100.
A business customer of Central Hudson Gas & Electric Corporation can often post a surety bond instead of tying up cash in a security deposit for new or continued service. Premiums cost 2% of the bond amount, $100 minimum; no credit check up to $15,000, and your exact price appears at the application.
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How much does a New York Central Hudson 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.
Enter your amount, complete the short application, and send the executed bond to Central Hudson. Here is the whole thing:
Apply online
Your business details, the Central Hudson account or service location, the deposit amount required, and the effective date.
Issued on the spot
No credit check up to $15,000, so most bonds generate the moment you pay.
File with Central Hudson
Submit the executed bond to satisfy your security-deposit requirement in place of cash. Wet-ink original mailed on request.
What it is and who needs it.
What the utility deposit bond actually guarantees
New and existing business customers of an electric or gas utility can be asked to secure their account with a deposit — protection for the utility if the account goes unpaid. Central Hudson Gas & Electric Corporation, like other New York utilities regulated by the Public Service Commission, permits a customer to satisfy that requirement with a surety bond in place of a cash deposit.
It is a three-party arrangement: you (the principal), the surety carrier, and Central Hudson (the obligee). If your account becomes delinquent and Central Hudson suffers a loss it is entitled to recover under its deposit rules, it can claim against the bond up to the bond amount.
It is not insurance for you — if the surety pays a claim, you repay the surety. The deposit amount is Central Hudson's to set for your account, so confirm the figure on your deposit notice before applying; we issue the bond at whatever amount you enter.
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 Central Hudson. Submit the executed bond to satisfy your security-deposit requirement in place of cash. Wet-ink original 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.
These are the actual issuing fields. No credit check up to $15,000. Your exact price — 2% of the bond amount, $100 minimum — is set at application.
Start the application →Common questions.
Other New York bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Skip the cash deposit with Central Hudson.
2% of the bond amount, $100 minimum, with your exact price at the application. Free until issued.