Duck River Electric deposit bonds.
From $100. Enter your amount.
Instead of tying up cash as an account security deposit with Duck River Electric Membership Corporation, a commercial or industrial member in DREMC's middle Tennessee territory can post a surety bond for the same amount. DREMC's own service policies set a $1,500 minimum for a bond in lieu of a cash deposit — no less than twice the current or expected monthly bill — and the premium is 2% of the bond amount, $100 minimum; enter your amount in the calculator 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 DREMC. Here is the whole thing:
Apply online
Your account or business details, the account security amount DREMC 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 DREMC
Submit the executed bond to Duck River Electric Membership Corporation in place of the cash deposit on your account. Wet-ink originals mailed whenever the cooperative insists.
What it is and who needs it.
What the utility deposit bond actually covers
When a general service or industrial member establishes electric service with Duck River Electric Membership Corporation, the cooperative can require account security equal to roughly twice the member's anticipated or historic monthly bill. Rather than leave that cash on deposit, DREMC's Service Policies allow a surety bond — along with an irrevocable letter of credit or a self-insurance certification — in place of the cash for commercial and industrial members.
DREMC's policy sets specific bond terms: the bond must be $1,500 or greater, no less than twice the current or expected monthly bill, subject to the cooperative's approval of both the surety and the bond form, and it must remain in force with at least 60 days' written notice before any cancellation. Failure to keep a valid bond in force is treated as a breach of the electric service contract.
It is not insurance for you — the bond stands behind your electric charges, and if the surety pays DREMC on a default, you repay the surety. The advantage is cash flow: you pay a small premium — from $100 — rather than locking up the full account security amount. Enter the figure DREMC set for your membership 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 account security amount DREMC 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 account security amount DREMC set and file the same day.