Deposit Requirements

Small Commercial

• Average two-months bill
• Reduced to an average one-months bill with good payment record

Large Commercial, Retail or Industrial

• Average two-months bill
• With a good payment history - reduce to average one-months bill
• In lieu of cash deposit, an insurance performance bond equal to two-months average billing may be provided (minimum $1,000)
• An FDIC bank can issue an irrevocable letter of credit in the amount of an average two-months billing (minimum $1,000)
• A certificate of deposit in an FDIC bank may be assigned to Clay Electric in an amount equal to an average two-months billing (minimum $500)

Note: A deposit can be used to secure payment for more than one account. Also, national accounts, national chains and large industrial customers which are publicly held and which meet financial qualifications may have their deposit on all accounts waived by submitting a corporate guarantee in a form stipulated by Clay Electric.

Please give your local district office a call if you would like to discuss deposit requirements.

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