Portland General Electric Company Bond Overview
- Purpose: To guarantee payment for electrical services in Portland, OR
- Who Needs It: Certain Portland General Electric Company (PGE) customers
- Bond Amount: $1,000–$100,000; determined by PGE based on utility usage
- Premium Price: Typically 1–5% of the bond amount
What Is a Portland General Electric Company Security Deposit Bond?
Electrical service customers can file a surety bond in place of a security deposit with Portland General Electric Company (PGE). The utility deposit bond guarantees timely payment for services.
Always verify your coverage requirement with PGE before buying your bond.
How Much Do Utility Bonds Cost?
PGE utility payment guarantee bonds typically cost 1–5% of the total bond amount based on a soft credit review. For example, a qualified applicant might pay just $100–$500 for a $10,000 utility bond. Get your free quote now.
SuretyBonds.com offers the lowest available rates from our nationwide provider network with no added fees.
How Does a Portland, OR Utilities Bond Work?
All utility deposit bonds create a legally-binding contract between three parties.
| Bond Party | Description |
|---|---|
| 1) Principal | You, the utilities customer/company owner |
| 2) Obligee | Portland General Electric Company |
| 3) Surety | The issuing surety provider |
If you fall behind on payments, the bond protects PGE from loss up to the full bond amount. In turn, you must reimburse the surety for any claims paid out.
How Do I Get a Utility Deposit Bond in Portland?
To get a PGE utility deposit bond, submit a quick online application form. We’ll provide your free quote within one business day or less. Once all your information is gathered, you can checkout online at your convenience.
We offer next-day, two-day or three-day FedEx shipping options. Be sure to file the original, physical bond form with the company as instructed.
Can I Get Bonded With Bad Credit?
You may still be able to get this bond if you have a low credit score. Be aware that credit score directly impacts bond pricing. The best way to see if you qualify is by submitting a no-obligation quote request.
