Richmond utility deposit bonds.
From $100.
Instead of tying up cash, a commercial account can post a surety bond in lieu of the cash deposit the City of Richmond Department of Public Utilities requires to open or hold a utility account. The City sets the amount — pricing is 2% of that amount, with a $100 minimum.
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How much does a Richmond utility 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 most utility deposit bond amounts — enter your amount, pay, and file with the City. Here is the whole thing:
Apply online
Your business details, the deposit amount the City required, and the effective date — that is the application. No credit check up to $15,000.
Issued on the spot
Most applications are approved instantly and the executed bond is generated as soon as you pay. No credit check up to $15,000.
File with the City
Submit the executed bond to the City of Richmond Department of Public Utilities in place of the cash deposit. Wet-ink originals mailed on request.
What it is and who needs it.
What the utility deposit bond actually does
When the City of Richmond Department of Public Utilities opens a commercial water, gas, or wastewater account, it can require a deposit to cover the risk of unpaid bills. A surety bond in lieu of deposit satisfies that requirement without tying up your cash — you pay a small premium instead of fronting the full amount.
It is a three-party arrangement: you (the principal), the surety carrier, and the City of Richmond (the obligee). If the account goes unpaid, the City can recover the deficiency against the bond up to its amount — and the surety then looks to you to be made whole.
The City sets the deposit amount, usually tied to your estimated billing. We issue that amount as a bond priced from $100, on the form the Department of Public Utilities accepts — 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
File with the City. Submit the executed bond to the City of Richmond Department of Public Utilities in place of the 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 City set — the executed bond is generated instantly, ready to file.
Start the application →Common questions.
Other Virginia bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Free up your cash deposit today.
Pricing from $100. Enter the amount the City required and file the same day.