How much does an energy agent, broker or consultant bond cost in Illinois?
The state of Illinois requires energy brokers, consultants and agents to post a $5,000 surety bond before receiving a license.
SuretyBonds.com issues these bonds instantly for just $100. Since there is no underwriting required, everyone qualifies. Simply click Buy Now to visit our secure online bond checkout and purchase your bond online. It only takes a few minutes to be on your way to getting bonded as an energy agent, broker or consultant in Illinois.
| Bond Type | Bond Amount | Cost | |
|---|---|---|---|
| $5,000 Energy Agent, Broker or Consultant License Bond | $5,000 | $100 |
Why do I need this bond?
Professionals who broker out utility services to consumers in Illinois must be bonded. These bonds ensure that energy agents work according to industry regulations, including, but not limited to the following:
- Disclosing they are not employed by the energy supplier(s)
- Disclosing, if applicable, that the energy supplier will provide them with compensation
- Marketing themselves, their services, and the energy provider honestly
What’s the fine print?
Although this obligee does not have a specific form, the surety should provide a form with specific language required the state. Illinois energy agent, broker or consultant surety bonds expire one year from the date of issuance. If the bond is to be canceled, the surety company must provide the state with at least 30 days’ notice.
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Additional Resources
Illinois Commerce Commission: Electricity Agents, Brokers and Consultants (With Bond Form)
Joint Committee on Administrative Rules Administrative Code Title 83: Public Utilities
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