City of Edmond Utility Bond Guide
If you’re a high volume utility user in Edmond, Oklahoma, you may need this surety bond.
Bond Overview
- Purpose: To ensure utilities providers receive payment
- Who Needs It: High volume utilities consumers in Edmond, OK
- Regulating Body: The City of Edmond
- Required Coverage: $1,000–$10,000 based on utility usage
- Premium Rate: 1–10% based on credit score
Learn all about the bond requirements and process in this guide.
What Is a City of Edmond Utility Bond?
A City of Edmond utility bond is a financial guarantee ensuring a person or organization will pay their public utility bills in-full and on -time. A surety bond is used in lieu of a cash deposit as financial security.
These surety bonds protect utility companies by ensuring they receive payment for electric, water, sewer, solid waste and drainage services.
How Much Do Utility Bonds Cost in Edmond, OK?
City of Edmond utility bonds cost a small percentage of the required bond amount, typically 1–10%. Your bond coverage will be calculated as two times the highest monthly utility service bill.
Exact rates vary based on personal credit score. Apply for your free quote now!
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Do I Get My Bond?
SuretyBonds.com provides the fastest and easiest way to get a City of Edmond utility bond. Just follow these quick steps:
- Apply: Submit an online quote request form
- Quote: Receive your quote within one day
- Sign: Complete the indemnity agreement
- Buy: Purchase the bond online 24/7
We’ll mail you the bond via your preferred shipping method. Be sure to file the bond with the City as instructed.
If you have any questions, call our friendly surety experts at 1 (800) 308-4358 for assistance.
How Does a City of Edmond Utility Bond Work?
A utility bond creates a legal contract between three parties:
- Principal: You, the utility user filing the bond
- Obligee: The City of Edmond requiring the bond
- Surety: The provider issuing the bond
This holds you financially responsible for upholding your consumer contract and paying all sums owed.
If you break the bond terms, harmed parties can file claims. The surety will pay valid claims up to the bond amount, but you are ultimately responsible for refunding the surety.
How Do I Renew My Bond?
These bonds expire annually. To renew your utility bond, simply pay your renewal invoice when prompted.
We’ll begin contacting you by phone and email 90 days before the expiration date.