Keep your cash working — let a bond stand in for the deposit.
A bond instead of a cash utility deposit
Utility deposit bonds let a business substitute a surety bond for the cash security deposit a utility would otherwise require. They guarantee the utility that you will pay your bills — and free up the capital you would have tied up in a deposit.
What a utility deposit bond does
Instead of leaving a large cash deposit with an electric, gas, or water provider — common for high-usage commercial accounts — you post a surety bond guaranteeing payment. If you default, the utility claims against the bond up to its amount, and you reimburse the surety. The utility (the obligee) sets the amount, typically based on estimated usage — often about two to three months of billing. The benefit is simple: your cash stays in the business instead of sitting in a deposit.
Frequently Asked Questions
How does a utility deposit bond help my business?
It replaces a cash security deposit with a surety bond, so you keep that capital working in your business instead of tied up with the utility. You pay a small premium rather than the full deposit.
How is the amount set?
By the utility, usually based on your estimated usage — often about two to three months of billing.
How do I get a utility deposit bond through Cory Washington & Co.?
Request a quote or contact our team. We confirm your exact requirement, market your bond across multiple surety companies that compete for it, and handle the filing. Cory Washington & Co. LLC is licensed in all 50 states.
All surety bond descriptions on this website are provided by Cory Washington & Co. LLC strictly for general informational purposes. They are not intended to be, and should not be relied upon as, legal, financial, or bonding advice. Surety bonds are not insurance. Bond requirements — including amounts, obligees, and bond forms — are set by government authorities and other obligees and change over time; the information presented is general in nature and does not guarantee the availability, terms, conditions, or amount of any bond. Actual bond terms are governed by the bond form issued by the surety and the requirements of the obligee, and any bond remains subject to underwriting approval. Nothing on this website creates or implies an agent-client relationship, binds a surety, or issues a bond. Cory Washington & Co. LLC expressly disclaims any liability for actions taken, or not taken, based on the content provided here. For advice regarding your particular situation, please confirm current requirements with the relevant authority and consult directly with a licensed professional at Cory Washington & Co. LLC.