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Army Veteran Owned | Expert Surety Bonds Since 2004
Have a question? +1 815-826-6324 (815-8-BondAI) phil@AmericasSuretyBonds.com
Army Veteran Owned | Expert Surety Bonds Since 2004
The bond amount is not a fixed number. Orange County sizes the security on a landfill credit account from your own disposal history, at three times your average monthly charges over the prior twelve months. A surety bond lets a hauler meet that figure without tying up cash or a bank letter of credit, and it keeps the charge account open at the Orange County Landfill.
Haulers and other customers who dispose of waste at Orange County facilities on credit must post security with Orange County Utilities, Solid Waste Division. A county agenda memo states the deposit equals three times the customer's average monthly charges for the previous twelve months, and that cash, bond or letter of credit are acceptable. The bond guarantees payment of disposal charges billed to the account.
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Orange County Utilities runs the county landfill through its Solid Waste Division. Customers who want to dispose of loads on a charge account, instead of paying at the scale each trip, are credit customers. Orange County requires credit customers to keep a deposit on file as security for payment.
A July 14, 2015 Utilities Department memorandum to the Board of County Commissioners states that credit customers must keep a deposit equal to three times their average monthly charges over the prior twelve months. A hauler with heavy monthly tonnage will need a much larger bond than a small contractor. Because the figure tracks usage, it can change when your disposal volume changes, so expect the county to ask for an increase if your account grows.
The same memo lists the acceptable forms of deposit as cash, bond or letter of credit. A surety bond is usually the lightest option on working capital. Cash sits with the county, and a bank letter of credit typically draws on your credit line. With a bond you pay an annual premium and the surety stands behind the obligation.
The bond protects Orange County if the account holder fails to pay disposal charges billed for loads delivered to county facilities. If charges go unpaid, the county can claim against the bond, and the hauler must repay the surety for any amount paid out.
Confirm the current deposit amount, bond form and filing steps with Orange County Utilities, Solid Waste Division before the bond is issued.
Orange County sets the deposit at three times your average monthly disposal charges over the previous twelve months. The Solid Waste Division gives you the exact figure for your account.
Yes. Orange County Utilities lists cash, bond or letter of credit as acceptable forms of deposit for credit customers.
Any customer that disposes of waste at Orange County facilities on a credit or charge account, most often commercial haulers. Customers who pay for each load at the scale are not credit customers.
Yes. The deposit is based on your recent average monthly charges, so higher volume can lead the county to ask for a larger bond.
The surety prices the bond from the bond amount and the business's credit and financial strength. Larger amounts may require financial statements.
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