What is an Arkansas Utility Bond?

Get to know what this surety bond is for today!

Arkansas Utility BondA surety bond helps keeps the cost of utility services down!

How? It’s domino effect, really. A customer who fails to pay his or her bills will affect the rest of the utility company’s customers.

A surety bond as a financial deposit will protect the rest of the customers from any additional charges.

A Utility bond is required by the Entergy Arkansas, Inc. prior to providing a service. The surety bond will serve as a guarantee or a deposit in case the Principal or the person who applied for a utility service defaults from his or her obligation such as paying the bill on time or leaves without paying.

When this happens, the utility company will file for financial claims on the surety bond, up to its penal sum.

 

What are the Utility Bond amounts?

The bond amount varies. Before you apply for a utility bond, verify the full bond amount required with Entergy Arkansas, Inc.

Once you have determined your bond amount, we will be able to give you your tailored bond premium.

If you know your bond amount now, you may get your FREE SURETY BOND QUOTE HERE!

 

What are the bond conditions?

  • The surety bond agent or company should be authorized to conduct business in the State of Arkansas
  • The surety bond should be made payable to Entergy Arkansas, Inc.
  • The Principal is obligated to comply with the rules set forth by Entergy Arkansas, Inc.
  • If the Principal commits a violation of the rules such as failure to pay the necessary bills on time and in full amount, Entergy Arkansas, Inc. will be eligible to file a claim on the surety bond

 

How can I get a Utility Bond?

In order to secure this type of bond, you must seek the assistance of a surety bond company.

You will be asked to apply for this bond. If you’re ready to apply for one right now, you may easily do so HERE!

Once the application is received, the surety bond company will immediately process it. In our case, one of our expert surety bond agents will guide you through the whole process from the time you applied for the bond. We will make sure that you understand all the conditions before we issue the bond.

An underwriter will then evaluate the following:

  • Your financial strength
  • Your job/business performance history
  • Your credit score

Once the pre-qualification process is fulfilled, we will execute the bond and send it to you!

If you need further information about this surety bond, call us at 800-333-7800!

Liked this content? Share it!