OR utility deposit bonds.
2% of the bond amount.

Springfield Utility Board (SUB) — the customer-owned electric and water utility serving Springfield, Oregon — will accept a surety bond in lieu of a cash security deposit for a new or high-usage account. SUB sets the required amount based on your estimated usage or billing history; premiums cost 2% of the bond amount, $100 minimum, and the application collects no credit information.

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Accepted by Springfield Utility Board as an alternative to posting cash with your account

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SUB sets the amount based on estimated usage or your billing history — there is no fixed statewide figure

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2% of the bond amount, $100 minimum — no credit fields in the application

From $1002% of the bond amount, $100 minimumNo credit fieldsin the applicationFastinstant underwriting for most

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How it works

Apply to filed in one sitting.

No long underwriting queue for a standard utility deposit bond — enter the amount SUB gave you, pay, and send the executed bond back to them. Here is the whole thing:

TODAY · ONLINE

Apply online

Your details, the deposit amount SUB set for your account, and the effective date — that is the entire application. No credit information is collected.

USUALLY MINUTES

Approved

Most applications for this amount approve instantly. If a check ever runs, it is a soft pull that will not touch your score.

SAME DAY

File with SUB

Your executed bond and power of attorney arrive by email so you can submit it to Springfield Utility Board in place of the cash deposit. Wet-ink originals mailed on request.

About this bond

What it is and who needs it.

What the SUB deposit bond actually guarantees

Springfield Utility Board is the customer-owned electric and water utility serving the city of Springfield, Oregon. Like most utilities, SUB may require a new customer — or an existing customer whose account has run into billing trouble — to post security for the account before establishing or continuing service. A surety bond is the standard alternative SUB and most utilities accept in place of tying up cash with the utility for the life of the account.

It is a three-party guarantee: you (the principal), the surety carrier, and Springfield Utility Board (the obligee). If your account becomes delinquent and SUB is left unpaid, SUB can claim against the bond up to its face amount — and if the surety pays, you repay the surety. It protects the utility and its ratepayers against unpaid balances, not your own losses.

There is no fixed statewide amount for a utility deposit bond — SUB sets the figure for your account based on your estimated usage or, for an existing account, your billing history. Enter the amount SUB gave you; premiums are priced at 2% of that figure, with a $100 minimum, and the application collects no credit information.

Springfield Utility Board — deposit policySpringfield Utility Board is a customer-owned electric and water utility operated under the City of Springfield charter establishing the Utility Board. SUB's deposit requirements are set by its own rate schedule and customer service policies rather than a statewide Oregon statute; confirm the exact deposit amount and any deadline directly with SUB before applying, and name Springfield Utility Board as the obligee on the bond.

You need this bond if you are

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A new SUB electric or water customer asked to post a security deposit before service starts

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An existing customer whose account history triggered a deposit requirement

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A business account whose estimated usage sets a larger deposit than a residential account

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Anyone who would rather pay a small annual premium than tie up cash with the utility

One application, then a quick review.

Submit the application with the deposit amount SUB set for your account. The application collects no credit information, and most applications approve instantly.

Start the application →

FAQ

Common questions.

How much is the Springfield Utility Board deposit bond?Premiums cost 2% of the bond amount, with a $100 minimum. The amount itself is set by SUB for your account, based on your estimated usage or billing history — enter that figure and your exact price appears at the application.

What amount should I enter?Enter the exact deposit amount Springfield Utility Board told you to secure. SUB sets this case by case — new accounts are typically sized from estimated usage, and existing accounts from billing history — so confirm the figure on your account notice or by calling SUB before applying.

What does the bond guarantee?It guarantees that Springfield Utility Board recovers unpaid charges on your account, up to the bond amount, if your service is discontinued with a balance owing. It stands in for the cash deposit SUB would otherwise hold — it does not cover any loss of your own.

Is there a credit check?The application collects no credit information, and most applications approve instantly. If a check ever runs, it is a soft pull that will not affect your score.

Where do I file it?Send your executed bond and power of attorney to Springfield Utility Board — by email attachment or in person at their office — in place of the cash deposit they requested. Keep a copy for your own records.

Related bonds

Other Oregon bonds.

Skip the cash deposit.

The application collects no credit information. Enter the amount SUB set for your account and send the executed bond back the same day.

Start application

Your premiumfrom $100

Apply now →