This bond is required to ensure that the applicant will pay all utility bills on time. Required bond amount varies; according to Section 40-21-50 of the Alabama Code, “any person establishing a new public utility shall pay to the state the sum of $100 when operation is begun between October 1 and April 1 and $50 when operation is begun after April 1 and shall also at the same time execute a bond, payable to the State of Alabama, to insure payment of whatever sum, in addition to the $100 or $50, which may be due when, at the end of the first year or if operation began after April 1, the amount of the gross receipts is ascertainable”. To determine the cost of this bond, simply complete our easy online application.
To Acquire an Alabama Power Company Utility Surety Bond:
- Complete an online application.
- One of our expert commercial surety agents will call and email you with the firm quote and an agreement to sign.
- Provide payment and your signed agreement, then you will receive your bond!
** all bonds are subject to the underwriting terms and conditions of the issuing company.