Utility Deposit Bond - Town of Havana, FL in Florida

Brief Summary

The Town of Havana runs the electric, gas, water and sewer service itself, so a commercial account here can carry one large combined deposit. A surety bond lets a business meet that deposit without tying up two months of utility bills in cash.

The Town of Havana is a full service municipal utility providing electric, natural gas, water, sewer and garbage collection. Commercial customers pay a deposit of two times the average utility bill. The Utility Deposit bond guarantees the Town that a customer's utility charges will be paid, standing in for that deposit where the Town accepts it.

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How to Apply for a Utility Deposit Bond:

• Get the commercial deposit amount from the Town of Havana utility office.
• Have the legal business name and service address exactly as they will appear on the utility account.
• Confirm with the Town the bond form and filing steps it uses for a deposit bond.
• Complete the bond application and review the quoted premium.
• Pay the premium and receive the executed bond for the deposit amount.
• Deliver the bond to the utility office at 711 North Main Street and pay the $25 per service connection fee.

Detailed Information About the Florida Utility Deposit Bond:

Commercial deposits are sized differently

Havana posts flat residential deposits of $40 for water only and $400 for water plus one or more other utilities. Business owners often expect the same. The Town sets the commercial deposit at two times the average utility bill instead, and because one account can include electric, gas, water, sewer and garbage, that figure can be much larger than the residential amounts. The bond should be written for the commercial deposit amount the Town gives you.

What the bond guarantees

The Town of Havana is the obligee. If the account holder leaves unpaid utility charges, the Town can claim against the bond up to its amount, and the surety then looks to the business to repay it. The bond does not cover anything beyond the utility account it is written for.

Setting up service

New service is arranged in person at the Cecil G. Trippe Municipal Building, 711 North Main Street, Havana, FL 32333, phone (850) 539-2820. The Town charges a non-refundable $25 connection fee per service, which is separate from the deposit and is not covered by the bond. Ask the utility office for the commercial deposit amount and confirm the current bond form and filing steps before the bond is issued.

Eligibility and Requirements for a Florida Utility Deposit Bond:

• Town of Havana named as obligee.
• Bond amount equal to the deposit the Town sets, two times the average utility bill for commercial accounts.
• Business name and service address matching the utility account.
• Bond kept in force while the account is open.
• Owner or business credit review by the surety, which shapes the premium.

Florida Utility Deposit Bond FAQs:

Official and Additional Resources for the Florida Utility Deposit Bond: