Richmond utility deposit bonds.
From $100. Enter your amount.
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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Apply to filed in 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 entire application. No credit information is collected.
Issued on the spot
Most applications are approved instantly and the executed bond is generated as soon as you pay. On the rare bond where a check does run, it is always a soft pull that never touches your credit score.
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 — the application collects no credit information at the standard amount.
You need this bond if you are
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.
Free up your cash deposit today.
Pricing from $100. Enter the amount the City required and file the same day.