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How much does a utility service bond cost in Louisiana?
Certain utility service providers in Louisiana require customers to post surety bonds in lieu of cash deposits. Bond amounts vary on a case-by-case basis, so applicants should verify their required amount of bond coverage with their utility company prior to bonding.
Because the required bond amount and, therefore, the price of this bond can fluctuate so much, our experts recommend submitting a bond request to begin the bonding process. You’ll be connected with a surety specialist who will walk you through our fast and easy bonding process.
The professionals at SuretyBonds.com can help you with all of your Louisiana utility bonding needs, whether your bond type is listed above or not. For more information, or if you’re ready to purchase your utility bond quickly, easily, and accurately, call 1 (800) 308-4358 or submit a bond request now.
Why do I need this bond?
Utility deposit bonds in Louisiana are put in place to ensure that principals (utility customers) pay their utility bills on time and in full. If a customer accrues a balance for utility services received, the bond protects the utility company from financial loss up to the full amount of the bond. The principal, in turn, must reimburse the surety for all damages paid out.
SuretyBonds.com makes purchasing the Louisiana surety bond you need fast and easy. Apply for your free, no-obligation bond quote!
What’s the fine print?
The fine print on utility deposit surety bonds in Louisiana vary from utility company to utility company. Applicants should be sure they understand the terms of their bond agreement during the bonding process.
Entergy Gulf States Louisiana bonds must be in an amount of at least $2,000. The bond must be issued for a term of at least one year. The utility company can cancel the bond by giving written notice of cancellation at least 60 days prior to the effective termination date.
Cleco Power bonds must be in an amount of at least $1,000 and can be canceled by the surety if the surety mails a written notice of termination via certified U.S. mail to the utility company at least 30 days prior to the effective termination date.