SC Santee Cooper utility deposit bonds.
2% of the bond amount.

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. A surety bond is a form of security Santee Cooper accepts in place of tying up cash. Premiums cost 2% of the bond amount, $100 minimum, and your exact price is priced at application.

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Posted with Santee Cooper in place of a cash security deposit on your electric account

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Bond amount is set by Santee Cooper — usually keyed to your account's estimated or historical usage

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2% of the bond amount, $100 minimum — enter the amount your account notice specifies

2% rate$100 minimum premiumSoft pull onlynever a hard inquiryFastinstant underwriting for most

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How it works

Apply to filed in 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:

TODAY · ONLINE

Apply online

Your details, the deposit amount Santee Cooper specified on your account, and the effective date — that is the entire application.

INSTANTLY

Approved

Most utility deposit bonds clear immediately at 2% of the bond amount, $100 minimum. A soft pull may inform approval on larger amounts; it never affects your score.

SAME DAY

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.

About this bond

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.

S.C. Code Ann. § 58-31-10 · Santee Cooper Terms and Conditions of Retail Electric Service, § IV(d)S.C. Code Ann. § 58-31-10 creates the South Carolina Public Service Authority, doing business as Santee Cooper. Section IV(d) of Santee Cooper's published Terms and Conditions of Retail Electric Service provides that "a deposit satisfactory to Santee Cooper may be required for all new or existing accounts as security for the payment of all bills," and that Santee Cooper may require or increase a deposit where usage changes materially increase the account's draw on electrical energy, or after more than two delinquent payments in a 12-month period. The Terms and Conditions do not fix a single statutory deposit amount or name a bond form by statute; confirm your exact required deposit amount with Santee Cooper before applying.

You need this bond if you are

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Opening a new Santee Cooper electric account and want to avoid tying up cash in a deposit

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An existing customer Santee Cooper has asked to post or increase a deposit after a usage change or delinquent payment history

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A business or commercial account holder who would rather post a low-cost bond than a large cash deposit

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Renewing an existing utility deposit bond that is coming up for its term

One application, issued instantly.

These are the actual underwriting 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 →

FAQ

Common questions.

How much is the Santee Cooper utility deposit bond?Premiums cost 2% of the bond amount, with a $100 minimum. The bond amount itself is the deposit figure Santee Cooper specifies on your account — enter that number and your exact price appears at the application.

What amount should I enter?Enter the deposit amount shown on your Santee Cooper account notice or new-service paperwork. Santee Cooper sets that figure — usually based on your account's estimated or historical usage — not a single fixed statewide number, so check your account before applying.

What does the bond guarantee?It guarantees payment of your Santee Cooper bills up to the bond amount. If your account becomes delinquent, Santee Cooper can draw against the bond to cover what is owed, and you then reimburse the surety for whatever it pays out.

Do I pay the full bond amount?No. You pay a one-time premium — 2% of the bond amount, $100 minimum — not the full deposit figure. That is the entire cost of substituting a bond for a cash deposit.

Is there a credit check?The application includes a credit consent, but it authorizes a soft credit pull only — a soft inquiry that never affects your score. No hard inquiry ever runs on this bond.

Related bonds

Other South Carolina bonds.

Skip the cash deposit.

2% of the bond amount, $100 minimum, soft pull only. Enter the deposit figure Santee Cooper specified and send the bond the same day.

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Your premiumfrom $100

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