Surety Bond Requirements

Surety Bond Requirements

Berkeley Electric Cooperative will accept a surety bond in lieu of a cash deposit.  We do not have a specific form that needs to be completed by your insurance company; however, we have the following requirements:

  • The surety bond must be in effect for at least five (5) years.
  • The surety bond can only be canceled when written confirmation is received from Berkeley Electric Cooperative.  This is because the term may need to be extended based on the payment history of the account in question.
  • The surety bond amount must match the cash deposit amount that would have been required.
  • Berkeley Electric Cooperative, Inc. should be listed as the obligee, and our address is Post Office Box 1234, Moncks Corner, SC 29461.

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