Caney Fork EC deposit bonds.
From $100.
Caney Fork Electric Cooperative, a member-owned electric cooperative serving McMinnville and the surrounding Middle Tennessee area, may require a deposit or suitable guarantee from a member before electric service is supplied. A surety bond satisfies that guarantee without tying up cash — premiums run 2% of the bond amount, with a $100 minimum.
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How much does a Caney Fork EC 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 member deposit bond — enter your amount, pay, and deliver it to the cooperative. Here is the whole thing:
Apply online
Your account details, the deposit amount the cooperative required, and the effective date — that is the application.
Issued
The executed bond is generated as soon as you pay. No credit check up to $15,000.
Deliver to Caney Fork EC
Submit the executed bond to the cooperative in place of your cash deposit. Wet-ink originals mailed on request.
What it is and who needs it.
What the member deposit bond actually does
Caney Fork Electric Cooperative is a member-owned rural electric cooperative distributing power across McMinnville, Warren County, and surrounding Middle Tennessee communities. Under its own deposit policy, a deposit or suitable guarantee may be required of any member before electric service is supplied. Rather than leaving cash on deposit, a member can post a utility deposit surety bond for the same amount — the cooperative is protected, and your money stays with you.
It is a three-party arrangement: you (the principal), the surety carrier, and Caney Fork Electric Cooperative (the obligee). If the account goes unpaid, the cooperative can recover the outstanding balance against the bond, up to the amount it set.
It is not insurance for you — if the surety pays a claim, you repay the surety. The cooperative sets the deposit figure per member under its own deposit policy; there is no single published number. We issue the amount the co-op names, priced at 2% of the bond amount with a $100 minimum.
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
Deliver to Caney Fork EC. Submit the executed bond to the cooperative 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 instantly.
Submit the application with the deposit amount the cooperative set — the executed bond is generated as soon as you pay, ready to deliver.
Start the application →Common questions.
Other Tennessee bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Bond your deposit, keep your cash.
Premiums at 2% of the bond amount, $100 minimum. Enter the cooperative’s deposit figure and deliver the same day.