Berkeley Electric utility bonds.
From $100.
Berkeley Electric Cooperative accepts a surety bond in place of a cash membership deposit when you open, transfer, or reinstate electric service in its Lowcountry territory around Berkeley, Charleston, and Dorchester counties. The Cooperative sets the amount on your account; pricing is 2% of the bond amount, $100 minimum.
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How much does a Berkeley Electric utility bond cost?
2% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No underwriting queue for the standard membership deposit bond — enter your amount, pay, and file with the Cooperative. Here is the whole thing:
Apply online
Your details, the deposit amount Berkeley Electric Cooperative required, your county, and the effective date — that is the application.
Issued on the spot
No credit check up to $15,000, and most applications approve instantly — the executed bond is generated as soon as you pay.
File with the Cooperative
Submit the executed bond to Berkeley Electric Cooperative member services in place of your cash deposit. Wet-ink originals mailed on request.
What it is and who needs it.
What the utility deposit bond does
Berkeley Electric Cooperative is a member-owned electric distribution cooperative serving Berkeley, Charleston, and Dorchester counties in the South Carolina Lowcountry. Like most utilities, it collects a deposit to secure the bills a new or higher-risk account will run up before it establishes a payment history — but a surety bond can stand in for that cash.
It is a three-party arrangement: you (the principal), the surety, and Berkeley Electric Cooperative (the obligee). If your account carries an unpaid balance when service ends, the Cooperative can recover against the bond up to its face amount instead of drawing down a cash deposit.
It is not insurance for you — if the surety pays a claim, you repay the surety. Members who keep their accounts current typically use the bond to free up the cash a deposit would otherwise tie up. We issue the amount the Cooperative sets on your account; pricing is 2% of the bond amount, $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 the Cooperative. Submit the executed bond to Berkeley Electric Cooperative member services in place of your 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, issued on the spot.
Submit the application with the deposit amount Berkeley Electric Cooperative required — the executed bond is generated instantly, ready to file.
Start the application →Common questions.
Other South Carolina bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Berkeley Electric deposit bond, issued today.
Pricing at 2% of the bond amount, $100 minimum. Enter the deposit the Cooperative required and file the same day.