What Is a National Grid Utility Bond?
Utility deposit bonds ensure that National Grid customers pay their utility bills in full and on time. Whereas most surety bonds protect consumers, utility bonds protect utility companies by guaranteeing they receive payments from large energy users.
How Much Do Utility Deposit Bonds Cost?
The cost of a utility deposit bond is based on personal credit score and the bond amount. Contact National Grid to determine your bond coverage requirement based on historical or expected energy usage.
You’ll pay a small percentage of the total bond amount for your National Grid utility 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 National Grid 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 and mail the original bond form to the address below
Credit and Collections Dept.
15 Park Dr.
Melville, NY 11747
(800)664-6729
How Do National Grid Utility Deposit 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, National Grid 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 National Grid and must be renewed annually. The surety can cancel this bond at any time by delivering written notice 30 days before the termination date.
Who Needs a Utility Bond?
National Grid 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.
