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A utility bond is as a financial guarantee required by a utility company prior to any services being rendered. This bond is in place to ensure that your business is entering into a dependable working relationship and will also make all of the necessary payments to the utility company on time.
Some particular circumstances warrant an individual needing to acquire a utility bond which are primarily reserved for property owners that may have a considerable history of late payments or non-payments altogether. In most cases, it will be a business that requires this promissory note, rather than an individual for their place of residence. This safeguard protects the consumer and is mandated by state or government authorities to ensure they won’t be delinquent in the future. Utility bonds have become more popular in recent years as the market is beginning to open up more and more with new innovations and technology advancement.
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The government has rules and regulations that require many businesses in many different industries to secure various license and permit bonds in order to run their business legally. This general liability insurance is looked as a necessity for these corporations to make sure they are guaranteed payment and can operate in a consistent, streamlined manner. A utility bond is required before utilities will be turned on by any provider.
A claim on your utility surety bond is something you want to avoid. Whenever a claim is shown, the surety will cover all of those costs up to the punitive sum. If this does occur, you will have to pay back the surety in full. Do your best to try and avoid claims at all costs, because it will have an adverse effect on your business and credit history.
It can be a process to apply for a utility bond and that’s why Surety Place is here for you. We want to make sure that you are comfortable and we can answer all the questions you still may have.
The Surety Place, previously known as Surety Placement Services, was founded in 2002 and our vision was to provide businesses and agencies with reliable and professional bonding services with a personal touch. We are proud to have become one of the leading surety bond agencies known for our excellent customer service and top rated reputation. We work hard to maintain our reputation for being the best, so call to experience the Surety Place difference and we will help you acquire a utility bond in no time.
We establish a relationship with you in order to truly understand your business focus whether large or small, complicated or difficult. As one of the only true specialists within the industry we supply access, partnerships and specialty programs with numerous “A” rated sureties across the nation. We are here to help you service all your bonding needs with no appointments or contracts necessary.
Because of our industry knowledge and expertise coupled with our ever increasing specialty programs, we have the unique ability to write your bonds when no one else can, and because of our relationship with you we will stand behind you in support to achieve your agency or business objectives.
Our dedicated account managers are highly trained underwriters who provide our agents and clients a tailored bonding solution for their individual or corporate needs. In today’s marketplace, surety access can be limited; but with Surety Place as your partner, you’ll find the white-glove service you have been looking for.
No matter the size of the bond or how complicated, Surety Place is built to find an answer. Poor credit, financial hardship, fast growth, or just getting your company off the ground? We have options for you too.
We understand business. We also understand how difficult it can be when something that seems like such a small piece of the puzzle gets in the way of closing the deal or moving forward. We take that pressure off your mind so YOU can get back to work.
At The Surety Place, we pride ourselves in our customer service! If you have any questions regarding a bond placement, give us a call.