Smithville electric deposit bonds.
From $100.
Instead of tying up cash, Smithville Electric System — the municipally owned electric distributor serving the City of Smithville — lets a customer post a surety bond to secure an electric-service account in place of a cash security deposit. The utility sets the deposit amount at enrollment — premiums cost 2% of the bond amount, $100 minimum.
Trusted by industry leaders
How much does a Smithville 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 the utility. Here is the whole thing:
Apply online
Your details, the deposit amount the utility required, and the effective date — that is the application.
Issued on the spot
No credit check up to $15,000, so most bonds generate the moment you pay. No credit check up to $15,000.
Deliver to Smithville Electric System
Submit the executed bond to the utility 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
When a customer opens or reinstates electric service with Smithville Electric System — the City of Smithville’s municipally owned electric distributor, incorporated in 1969 to serve the city and surrounding DeKalb County area — the utility can ask for a security deposit against unpaid bills. Rather than leaving cash on deposit for as long as the account is open, a customer can post a utility deposit surety bond for the same amount instead.
It is a three-party arrangement: you (the principal), the surety carrier, and Smithville Electric System (the obligee). If the account goes unpaid, the utility 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. The deposit requirement is the utility’s own customer-service policy rather than a numbered state statute or city ordinance; we issue the amount the utility confirms, 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 Smithville Electric System. Submit the executed bond to the utility 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 the utility 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.
From $100. Enter the utility’s deposit amount and deliver the same day. Free until issued.