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Florida bonds

Tampa Electric Company (TECO), FL — Electric Utility Deposit Bond

Apply for a Tampa Electric Company utility deposit bond using TECO's surety form and the amount requested for your electric account. Check the account's service start date: the form addresses charges from the commencement of service.

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Recorded state
Florida
Category
Utilities

What this bond does

The bond provides security for electric service charges under TECO's accepted form. It is a utility-account bond, not a guarantee of connection or uninterrupted power.

Who needs it
Commercial or industrial utility customers in Florida who have been directed by Tampa Electric Company to provide a security deposit but prefer to use a surety bond instead of a cash payment.
Who it protects
Tampa Electric Company is the protected utility. Its form addresses service indebtedness and enforcement expenses. Read the document's separate liability provisions before signing; the account holder remains responsible for the electric bills.

Your bond option

This is the option on record for this bond.

The bond amount describes the limit of the bond obligation, not the price. A listed amount does not establish what the requesting party requires. The premium is what you pay and must be confirmed for the actual option. An E&O limit, where listed, is separate errors and omissions insurance.

Check the account and service commencement date

When an applicant secures this bond, they are contractually obligated to pay all service indebtedness to TECO from the commencement of service until formal termination. The surety is jointly and severally liable for these charges, meaning the company may seek payment from either the principal or the surety to satisfy the obligation.

Liability under this bond is broad, extending to all usage charges and related fees. Importantly, if the principal incurred charges prior to the execution of the bond, the surety's liability is retroactive to the date service commenced. The utility company may also recover costs related to the enforcement of the bond, including attorney fees incurred during collection or appellate proceedings.

Keep account termination and bond cancellation separate

The obligation remains in effect until the principal provides written notice of termination to TECO's Credit Department via certified or registered mail at least fifteen days in advance. Until this notice is properly received and processed, the principal and surety remain liable for all accrued service charges and associated usage fees.

The surety may cancel the bond by providing written notice to TECO at least 45 days, but no more than 90 days, prior to the effective cancellation date. Cancellation releases the surety from future liability, but the principal and surety remain liable for any amounts accrued up to the effective date of the termination notice.

Apply using TECO's form

This bond is a fixed instrument that cannot be amended by the surety unilaterally. Any attempt to modify the terms via endorsements or continuation notices without express written consent from TECO is considered ineffective. The bond remains in force as originally written until formal cancellation or termination is processed.

Purchase Now opens Propeller's application in a new tab. This page has one application option without preset amount or term choices. Provide TECO's required amount and account details; the issuing surety must be authorized for surety business in Florida. After issuance, submit the executed bond as TECO instructs and confirm acceptance and service activation separately.

Sources

Have these ready

  1. Verify the exact bond amount required by TECO for your specific utility account.
  2. Ensure your chosen surety provider is authorized to transact surety business in the state of Florida.
  3. Have the legal account holder, service address, account reference and service commencement date ready.
  4. Keep TECO's requested form and delivery instructions available. The provider handles issuance and required surety execution after the application.

Questions about this bond

Does this bond replace a cash deposit?

Yes, this bond is specifically designed to be furnished in lieu of a cash deposit as security for electric utility service charges.

What happens if I need to cancel my service?

You must provide at least 15 days of written notice to TECO's Credit Department by registered or certified mail to terminate the service and cease further liability.

Can my surety change the terms of the bond later?

No. The bond cannot be amended by the surety without express written consent from TECO. Unilateral changes or endorsements are ineffective.

Are legal fees covered by the bond?

Yes, the surety is obligated to pay costs and attorney fees incurred by the utility company in enforcing its rights under the bond, in addition to the penal sum.

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