Pickwick electric deposit bonds.
From $100.
The Selmer-based Pickwick Electric Cooperative lets a member post a surety bond instead of tying up cash to secure an electric-service account. Pickwick bases the deposit on your account’s billing history and credit standing with the cooperative. Premiums cost 2% of the bond amount, $100 minimum.
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How much does a Pickwick 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 deliver it to Pickwick. Here is the whole thing:
Apply online
Your details, the deposit amount Pickwick required, and the effective date — that is the application.
Issued on the spot
No credit check up to $15,000. Above $15,000, a soft pull may add a short review.
Deliver to Pickwick
Submit the executed bond to Pickwick Electric Cooperative in place of your cash deposit. Wet-ink originals mailed on request.
What it is and who needs it.
What the Pickwick utility deposit bond actually does
When you open or hold a Pickwick Electric Cooperative account, the co-op — which distributes TVA power to McNairy County and parts of Chester, Hardeman, and Hardin counties — can ask for a security deposit against unpaid bills, generally based on the account’s payment and usage history. Rather than leaving cash on deposit, you can post a utility deposit surety bond for the same amount — Pickwick is protected, and your money stays in your business.
It is a three-party arrangement: you (the principal), the surety carrier, and Pickwick Electric Cooperative (the obligee). If the account goes unpaid, Pickwick can recover the unpaid 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. For most members the bond is simply a cheaper way to satisfy a deposit than tying up the full amount in cash. We issue Pickwick’s required amount from $100, and no credit check up to $15,000.
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 Pickwick. Submit the executed bond to Pickwick Electric 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 on the spot.
Submit the application with the deposit amount Pickwick set — the executed bond is generated instantly, 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 from $100. Enter Pickwick’s deposit amount and deliver the same day.