Utility Payment Guarantee Bond
A Utility Payment Guarantee Bond is designed to ensure that 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. This bond differs from many others because it protects utility companies by ensuring that the company receives payment rather than consumers. These bonds are set on a case-by-case basis, depending on the size of the company and the services offered. Most applicants will pay between 1 and 10 percent of the total bond amount.
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