Utility deposit surety bonds are offered as a secure financial guarantee that any bill for utilities will be paid on time by a customer. In today’s tough economy, most utility companies require utility deposit surety bonds to be purchased as a deposit before the power can be turned on for a consumer.
The utility deposit surety bond is a way for the utility company to protect itself from the possibility of non-payment from the consumer. The utility deposit surety bond also protects the consumer because it prevents the utilities from being turned off due to late payment.
Bonds Express offers an Michigan Utility Deposit Bond with a 99% approval rate.
A surety bond protects the party requesting the bond, the Obligee, against any financial losses as a result of poor financial decisions, damages, unethical decisions, or a failure to follow state and local laws on the part of you, the Principal. The Michigan Utility Deposit Bond holds you accountable for your business decisions.
By possessing an Michigan Utility Deposit Bond, you are telling your Obligee that you can be trusted as a Principal and that you stand behind your business decisions.