BrightRidge utility deposit bonds.
From $100.
Instead of tying up cash as a deposit with BrightRidge, the Johnson City-based public power provider, a customer can post a surety bond for the same figure. BrightRidge sets the deposit, typically twice the highest estimated monthly bill for commercial and industrial accounts, and the premium is 2% of the bond amount, $100 minimum.
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How much does a BrightRidge 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 underwriting queue for the standard BrightRidge deposit bond — enter your amount, pay, and file with BrightRidge. Here is the whole thing:
Apply online
Your name or business, the electric service location, the deposit amount BrightRidge set, and the effective date — that is the application.
Issued
No credit check up to $15,000, and most applications approve instantly. Larger amounts may get a brief review.
File with BrightRidge
Submit the executed bond to BrightRidge in place of the cash deposit on your account. Wet-ink originals mailed whenever BrightRidge insists.
What it is and who needs it.
What the utility deposit bond actually covers
BrightRidge — chartered as the Johnson City Energy Authority and formerly known as the Johnson City Power Board — is a municipally owned electric distributor and local power company of the Tennessee Valley Authority (TVA), serving Washington County and parts of Sullivan, Carter, and Greene counties in Northeast Tennessee. No credit check up to $15,000.
For a residential account, the deposit is a flat figure that depends on the credit outcome. For a commercial or industrial account, BrightRidge's standard deposit is twice the highest estimated monthly bill for the location, and it can also be triggered by a move, an expansion of electrical load, or an additional service location. Rather than post that full amount in cash, BrightRidge's rules let a customer substitute an irrevocable letter of credit or a surety bond from a BrightRidge-approved surety, written for the same deposit figure.
The bond is a payment guarantee, not insurance for you: it names BrightRidge as obligee and stands behind the customer's unpaid electric charges, and if BrightRidge draws on it, the customer repays the surety. BrightRidge's own bond form requires the surety to give BrightRidge and the customer 60 days' written notice before letting the bond lapse or expire, and if it does lapse, BrightRidge will bill the customer the full cash-deposit amount instead. Enter the deposit figure BrightRidge set and your exact price appears at the application, priced from a $100 minimum with 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 BrightRidge. Submit the executed bond to BrightRidge in place of the cash deposit on your account. Wet-ink originals mailed whenever BrightRidge insists.
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.
Submit the application with the deposit amount BrightRidge set — the executed bond is generated as soon as you pay, ready to file in lieu of the cash deposit.
Start the application →Common questions.
Other Tennessee bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Utility deposit bond, issued today.
Premiums from $100 — your exact price appears at the application. Enter the deposit BrightRidge set and file the same day.