Ohio utility deposit bonds.
From $100.
Butler Rural Electric Cooperative, the member-owned electric utility headquartered in Oxford, Ohio, lets a member post a surety bond in place of a cash security deposit for electric service. It is a cooperative deposit policy, not a state or municipal requirement. Premiums cost 2% of the bond amount, $100 minimum.
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How much does an Ohio 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 co-op 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 co-op
Your executed bond arrives by email, ready to send to Butler Rural 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
Butler Rural Electric Cooperative is a not-for-profit, member-owned electric distribution cooperative headquartered in Oxford, Ohio, serving parts of Butler, Hamilton, Preble, and Montgomery counties in the Miami Valley. Like most electric cooperatives, it can require a new or higher-risk member to post a security deposit before starting or continuing service — protection against an unpaid final bill if the account is closed still owing money.
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 the co-op. 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 the cash the co-op would otherwise hold, often for the life of the account.
No credit check up to $15,000. We price the bond from a $100 minimum at 2% of the amount the co-op 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 Ohio 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 Butler Rural Electric set and send it to the co-op the same day. Free until issued.