NY LIPA utility deposit bonds.
From $100. Enter your amount.
A commercial or non-residential customer applying for electric service from the Long Island Power Authority (LIPA), doing business as Long Island Lighting Company, can be asked to post a security deposit under LIPA’s Tariff for Electric Service — and can satisfy that requirement with a surety bond instead of tying up cash. Premiums cost 2% of the bond amount, $100 minimum; the application collects no credit information. Enter the deposit amount LIPA set and your exact price appears at application.
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Apply to filed in one sitting.
No long underwriting queue for the standard utility deposit bond — enter your amount, pay, and file with LIPA. Here is the whole thing:
Apply online
Your business details, the deposit amount LIPA’s billing notice set, and the effective date — that is the entire application.
Issued
No credit fields in the application, and most applications approve instantly. If a check ever runs on a larger amount, it is a soft pull that will not touch your score.
File with LIPA
Submit the executed bond to satisfy the security-deposit line on your LIPA account instead of a cash deposit. Wet-ink originals mailed on request.
What it is and who needs it.
What the LIPA utility deposit bond actually covers
A utility deposit bond is a substitute for cash collateral. When a commercial or non-residential customer applies for — or has a history that leads LIPA to require additional security for — electric service, LIPA’s Tariff for Electric Service lets the customer post a security deposit. Rather than tying up that cash for the life of the account, the customer can file a surety bond in the same amount.
It is a three-party arrangement: you (the principal), the surety carrier, and LIPA, doing business as Long Island Lighting Company (the obligee). If your account goes to final bill unpaid, LIPA can draw against the bond up to its face amount to cover the balance — and if the surety pays, you repay the surety. It is not insurance for you.
LIPA’s published tariff terms describe the deposit as generally twice the account’s actual or estimated average monthly bill over a 12-month period, adjusted upward for a business with a pronounced peak season. There is no single statewide statute fixing this figure — it runs through LIPA’s own tariff and account underwriting. Enter the amount on your LIPA notice; we price the bond from a $100 minimum with no credit section in the application.
You need this bond if you are
One application, issued fast.
These are the actual underwriting fields — no credit section, just your account details and the deposit amount on your LIPA notice.
Start the application →Common questions.
Other New York bonds.
Free up cash instead of a LIPA deposit.
From $100, no credit section. Enter your required amount and file with LIPA the same day.