Covington Electric System deposit bonds.
2% of the bond amount, $100 minimum.
Covington Electric System (CES) can require a security deposit on an electric account — the exact figure is set by CES at application, based on the account’s billing history and expected usage. A surety bond satisfies that requirement without tying up cash; premiums run 2% of the bond amount, with a $100 minimum.
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Apply to filed in one sitting.
No underwriting queue for the standard utility deposit bond — enter your amount, pay, and deliver it to CES. Here is the whole thing:
Apply online
Your account details, the deposit amount CES required, and the effective date — that is the entire application.
Issued
The executed bond is generated as soon as you pay. A soft credit pull may inform pricing on larger amounts and never affects your score.
Deliver to CES
Submit the executed bond to Covington Electric System in place of your cash deposit. Wet-ink originals mailed on request.
What it is and who needs it.
What the utility deposit bond actually does
Covington Electric System distributes electric service to the city of Covington and surrounding Tipton County. CES can require a security deposit on an account, with the figure set by CES based on the account’s billing history and expected usage. Rather than leaving cash on deposit, you can post a utility deposit surety bond for the same amount — CES is protected, and your money stays in your business.
It is a three-party arrangement: you (the principal), the surety carrier, and Covington Electric System (the obligee). If the account goes unpaid, CES can recover the outstanding balance against the bond, up to the deposit amount it set.
It is not insurance for you — if the surety pays a claim, you repay the surety. CES sets the exact deposit figure per applicant; there is no single published number that applies to every account. We issue the amount CES names, priced at 2% of the bond amount with a $100 minimum.
You need this bond if you are
One application, issued instantly.
Submit the application with the deposit amount CES set — the executed bond is generated as soon as you pay, ready to deliver.
Start the application →Common questions.
Other Tennessee bonds.
Bond your deposit, keep your cash.
Premiums at 2% of the bond amount, $100 minimum. Enter CES’s deposit figure and deliver the same day.