Duck River Electric deposit bonds.
From $100.
Instead of tying up cash as an account security deposit with Duck River Electric Membership Corporation, a commercial or industrial member can post a surety bond. DREMC's service policies require a bond of at least $1,500 and no less than twice the current or expected monthly bill. The premium is 2% of the bond amount, $100 minimum.
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How much does a Duck River Electric 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 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 application.
Issued on the spot
Most applicants have the bond generated as soon as they pay, no waiting. No credit check up to $15,000. Above $15,000, a soft pull may add a short review.
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
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 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 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 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.
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 account security amount DREMC set and file the same day.