Get Arizona Salt River Project Utility Bond Form - Surety Bond

Your bonding rate is typically determined on the basis of your personal credit profile. If you have strong credit, the usual premium rate for utility bonds is between 1% and 5%. If you are asked to post a $20,000 utility bond, you might end up paying between $200 and $1,000 for it.

A utility bond is a type of financial guarantee ensuring a person or organization will pay for utilities on time. Most utility companies require customers who are projected to use a large volume of utilities to be bonded before utility services are turned on.

Arizona law requires all Notaries to purchase and maintain a $5,000 Notary surety bond for the duration of their 4-year commission.

You will generally pay 1-15% of the total bond amount. For example, if you need a $10,000 surety bond and you get quoted at a 1% rate, you will pay $100 for your surety bond. Higher risk bonds, like construction bonds, may cost 10% or more of the bond's value.

The cost of a performance bond usually is less than 1% of the contract price; however, if the contract is under $1 million, the premium may run between 1% and 2%. Bonds may be more costly, depending upon the credit-worthiness of the contractor. Labor and material payment bonds are companions to the performance bond.

A bond for a $100,000 contract will typically cost $500 to $2,000. Get a free Performance Bond quote.

The cost of the surety bond will vary--generally between $50 to $100 and are available through insurance agencies or bonding companies. A search for companies licensed to issue surety bonds is available at www.michigan.gov/difs.

A utility bond is a type of financial guarantee ensuring a person or organization will pay for utilities on time. Most utility companies require customers who are projected to use a large volume of utilities to be bonded before utility services are turned on.

A Utility Deposit surety bond guarantees the timely payment of utility bills to a utility company. It is not a state or federal requirement, but a requirement by private utility companies such as water companies and power companies. ... Utility companies will often not provide the service until the bond is in place.

A $5,000 surety bond can cost as little as $100 for applicants with a good credit score, or go as high as $500 for applicants with bad credit.