Utility Deposit Bond - JEA in Florida

Brief Summary

JEA sizes commercial deposits at twice your average monthly bill with no ceiling, which can lock up serious cash for a busy business. A surety bond on JEA's own deposit form satisfies that requirement for an annual premium, so the money stays in your operating account instead of sitting at the utility.

JEA, the community owned electric, water and sewer utility serving Jacksonville, Florida, requires a security deposit on commercial accounts. For a business with usage history the deposit is two times the average monthly billed consumption at current rates, and for non-residential accounts there is no monetary cap. JEA accepts a surety bond on its Indemnity/Surety Bond Deposit Form in place of cash.

We can help with all Florida bonds!

How to Apply for a Utility Deposit Bond:

• Ask JEA whether the credit based deposit waiver applies to your account.
• If not, get the exact deposit amount JEA has assigned to the account.
• Obtain JEA's current Indemnity/Surety Bond Deposit Form.
• Provide the legal business name and JEA account or service address.
• Complete the bond application and owner credit review.
• Return the executed bond to JEA as directed.

Detailed Information About the Florida Utility Deposit Bond:

Your deposit is not a fixed number

Business owners often expect a flat utility deposit. JEA calculates it from your account. With usage history, the deposit is two times the monthly billed consumption average at the current applicable rate, and JEA states there is no monetary cap for non-residential deposits. Accounts without usage history start from minimum amounts set by JEA. That is why the bond amount on this page is set to match the deposit JEA assigns to your account, not a preset figure.

Ways to secure the account

JEA's commercial deposit information lists cash, an irrevocable letter of credit, and a surety bond on the JEA Indemnity/Surety Bond Deposit Form. A letter of credit usually ties up a bank line. A surety bond does not, which is why many commercial customers choose it.

Who may not need a deposit at all

JEA says the additional deposit may be waived when the property owner provides full and legitimate credit information, including a full Social Security number, and meets JEA's Good Customer Relationship requirements. Ask JEA about this first. If the waiver is not available, the bond is the cash free alternative.

What the bond guarantees

The business is the principal and JEA is the obligee. If the account closes or goes into default with unpaid charges, JEA can claim against the bond up to its amount, and the business repays the surety.

Before you order

Get the exact deposit amount from JEA for your account and use JEA's current bond form. Confirm with JEA where the original bond should be sent before it is issued.

Eligibility and Requirements for a Florida Utility Deposit Bond:

• Bond amount equal to the deposit JEA assigns, two times the average monthly bill for accounts with history.
• No monetary cap on non-residential deposits.
• JEA named as obligee on the JEA Indemnity/Surety Bond Deposit Form.
• Business name on the bond matching the JEA account exactly.
• A surety company authorized to write bonds in Florida.

Florida Utility Deposit Bond FAQs:

Official and Additional Resources for the Florida Utility Deposit Bond: