South Carolina Santee Cooper utility deposit bonds.
From $100.
Santee Cooper, the South Carolina Public Service Authority created under S.C. Code Ann. § 58-31-10, may require a deposit satisfactory to Santee Cooper as security for payment on a new or existing electric account, and it accepts a surety bond in place of cash. Premiums cost 2% of the bond amount, $100 minimum.
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How much does a South Carolina Santee Cooper 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 separate underwriting queue for the standard utility deposit bond — enter your amount, pay, and send the bond to Santee Cooper. Here is the whole thing:
Apply online
Your details, the deposit amount Santee Cooper specified on your account, and the effective date — that is the application.
Approved
Most utility deposit bonds clear immediately at 2% of the bond amount, $100 minimum. No credit check up to $15,000.
Send it to Santee Cooper
Your executed bond arrives by email, ready to submit to Santee Cooper in place of a cash deposit on your account. Wet-ink originals mailed on request.
What it is and who needs it.
What the utility deposit bond actually guarantees
Santee Cooper — formally the South Carolina Public Service Authority, a state-owned electric and water utility created under S.C. Code Ann. § 58-31-10 — may require a deposit satisfactory to Santee Cooper as security for the payment of bills on a new or existing account, under its published Terms and Conditions of Retail Electric Service. A surety bond is one form of security Santee Cooper accepts in place of a cash deposit, so an account holder can free up working capital instead of tying it up with the utility.
It is a three-party arrangement: you (the principal), the surety carrier, and Santee Cooper (the obligee). If your account becomes delinquent, Santee Cooper can draw against the bond to cover unpaid charges up to the bond's penal sum, and the surety in turn looks to you to repay whatever it pays out. It backstops Santee Cooper's collection risk — it is not insurance for you.
Santee Cooper's Terms and Conditions do not set a single fixed deposit figure; the utility may require or increase a deposit based on an account's usage, and may waive one entirely if creditworthiness is established another way. Enter the amount specified on your account paperwork or deposit notice; your premium is priced from a $100 minimum at 2% of that figure.
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
Send it to Santee Cooper. Your executed bond arrives by email, ready to submit to Santee Cooper in place of a cash deposit on your account. 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 instantly.
These are the actual issuing fields, including the deposit amount your Santee Cooper account notice specifies. Most applications approve immediately at 2% of that amount, $100 minimum.
Start the application →Common questions.
Other South Carolina bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Skip the cash deposit.
2% of the bond amount, $100 minimum, no credit check up to $15,000. Enter the deposit figure Santee Cooper specified and send the bond the same day.