Cleveland Utilities deposit bonds.
From $100. Enter your amount.
Instead of paying cash as a security deposit to Cleveland Utilities for electric, water, or sewer service, an applicant can post a surety bond for the same amount. Cleveland Utilities sets the figure at approximately twice the average monthly bill of the rate class, and the premium is 2% of the bond amount, $100 minimum; enter your amount below for your exact price.
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Apply to filed in one sitting.
No underwriting queue for the standard utility deposit bond — enter your amount, pay, and file with Cleveland Utilities. Here is the whole thing:
Apply online
Your account or business details, the deposit amount Cleveland Utilities set, and the effective date — that is the entire application.
Issued on the spot
Most applicants have the bond generated as soon as they pay, no waiting. The application collects no credit information; if a check ever runs on a larger amount, it is a soft pull that never touches your score.
File with Cleveland Utilities
Submit the executed bond to Cleveland Utilities in place of the cash deposit on your account. Wet-ink originals mailed whenever the utility insists.
What it is and who needs it.
What the utility deposit bond actually covers
When you apply for Cleveland Utilities electric, water, or sewer service, the municipal utility for Cleveland, Tennessee can require a deposit or suitable guarantee approximately equal to twice the average monthly bill of the rate class. When service is terminated, the deposit is applied against any unpaid balance, with any remaining balance refunded to the customer. Rather than leave that cash sitting with the utility, Cleveland Utilities accepts a surety bond for the same amount in place of the cash.
The bond is a payment guarantee in lieu of the cash deposit: it stands behind the utility charges on your account. If the account goes unpaid and the deposit would have covered it, Cleveland Utilities can recover against the bond instead of drawing down a cash deposit.
It is not insurance for you — if the surety pays Cleveland Utilities, you repay the surety. The advantage is cash flow: you pay a small premium — from $100 — rather than locking up the full deposit amount. Enter the figure Cleveland Utilities set on your account notice and your exact price appears at the application.
You need this bond if you are
One application, issued on the spot.
Submit the application with the deposit amount Cleveland Utilities set — the executed bond is generated instantly, ready to file in lieu of the cash deposit.
Start the application →Common questions.
Other Tennessee bonds.
Utility deposit bond, issued today.
Premiums from $100 — your exact price appears at the application. Enter the deposit Cleveland Utilities set and file the same day.