What Is a Southwestern Electric Power Company Utility Bond?
Utility deposit bonds ensure that Southwestern Electric Power Customers customers pay their utility bills in full and on time. Whereas most surety bonds protect consumers, utility bonds protect utility companies by guaranteeing that they receive payments.
How Much Will My Utility Deposit Bond Cost?
The cost of a utility deposit bond is based on personal credit score and the bond amount. Contact Southwestern Electric Power Company to determine your bond requirement based on historical or expected energy usage.
You’ll pay a small percentage of the total bond amount for your Southwestern Electric utility deposit bond premium. Prices start as low as $100. Apply today to receive an exact quote.
SuretyBonds.com works with the nation’s top surety providers to find the lowest pricing with no added fees.
How Do I Get My Utility Bond?
Choosing SuretyBonds.com is the quickest and easiest way to get your Southwestern Electric utility bond. Just follow these five steps:
- Step 1: Apply for your bond online, providing your account number and line of business
- Step 2: Receive an instant price quote
- Step 3: Pay for your invoice online or over the phone
- Step 4: Select your preferred shipping method
- Step 5: Sign, notarize and mail the original bond form to the address below
American Electric Power / Southwestern Electric Power Company
Attn: Business Operations
1 Riverside Plaza
Columbus, OH 43215-2372
(614)716-1000
How Do Southwestern Electric Power Utility Bonds Work?
A utility deposit surety bond ensures that large utility customers will pay their bills in full and on time. If they fail to do so, the provider can file a claim to receive the payment. The surety provider will pay the claim amount and the bondholder must reimburse the surety.
These bonds remain effective until released by Duke Electric and must be renewed annually. The surety can cancel this bond at any time by delivering written notice 90 days before the termination date.
Who Needs a Utility Bond?
Southwestern Electric Power Company requires certain high-volume energy users such as manufacturers, restaurants or campgrounds to be bonded before turning on utility services. The company will notify you if you need to purchase a utility deposit bond.
Learn more in our Guide to Utility Bonds.
