Oregon utility deposit bonds, springfield utility board.
From $100.
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.
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How much does an Oregon 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 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:
Apply online
Your details, the deposit amount SUB set for your account, and the effective date — that is the application. No credit check up to $15,000.
Approved
Most applications for this amount approve instantly. No credit check up to $15,000.
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.
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 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
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.
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, no credit check up to $15,000.
Submit the application with the deposit amount SUB set for your account. No credit check up to $15,000, and most applications approve instantly.
Start the application →Common questions.
Other Oregon bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Skip the cash deposit.
No credit check up to $15,000. Enter the amount SUB set for your account and send the executed bond back the same day.