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How much does an energy broker bond cost in Washington, D.C.?
Energy brokers in Washington, D.C. must post a $10,000 surety bond prior to conducting business in the district.
These bonds are subject to underwriting consideration, which means the price you’ll pay depends on your financial credentials. Our experts recommend applying online now to request a free, personalized surety bond quote!
Ready to get bonded quickly, easily and accurately? Call 1 (800) 308-4358, or click here to connect with our team of surety bond experts who will walk you through each step of the bonding process.
Why do I need this bond?
Energy broker bonds in Washington, D.C., are put in place to ensure that principals (brokers) work in compliance with the rules, regulations and ordinances related to the issuance of their license. If the principal fails to conduct business according to the statutes outlined in the bond’s language, claims can be filed against the bond to reimburse financial loss up to the bond amount. Principals must always reimburse the surety for all damages paid out.
For more information on energy broker bonds in the District of Columbia, you can request additional information online now.
What’s the fine print?
Washington, D.C., energy broker bonds remain in full force and effect until canceled. The surety can cancel the bond at any time by giving written notice of cancellation to the commission. Termination becomes effective 30 days after the notice is received.
The bond can be extended for additional one-year terms with a continuation certificate issued by the surety.
How to become an energy broker in Washington DC
If your business provides energy brokering services in the District of Columbia, you may be required to have an Energy Broker License issued by the Public Service Commission.
To obtain and maintain this license, the district requires an application, a $400 fee, extensive supporting documentation and annual reports.