The North Carolina Utility Deposit Bond is required by the Duke Power Company. A utility bond is sometimes required instead of putting down a cash deposit as a cheaper alternative. The bond basically states that the applicant will pay all of his or her utility bills on time. Non-Residential deposits are determined by estimating your monthly bill based on your equipment and hours of operation and multiplying that estimate by two.
This bond is required for Duke Energy business customers who are getting a guarantor when applying for the connection of electrical service. A business customer can guarantee another business customer for up to an amount of $1,000. If the price of the security deposit is greater than $1,000, instead of getting more guarantors, applicants may instead get an irrevocable letter of credit or a surety bond.
Complete our easy to navigate online application. Within one business day, one of our licensed agents will contact you with a no-obligation quote for your bond (the “premium”). Once any necessary paperwork is signed and the premium payment is processed, your surety bond will be shipped to you via USPS Priority Mail (overnight shipping options also available).
The surety bond experts at Surety Solutions Insurance Services, Inc. (Surety1) are here to help you get bonded quickly and reliably. We work with over a dozen “A” rated surety markets to ensure we find you the lowest rate for your bond. We are also licensed in all 50 states and maintain an A+ rating by the Better Business Bureau.