what percentage do utility bonds pay
CLB Bonds. Programs Information and Applications. Utility bond is a surety bond which is issued to guarantee the payment of your utility bills. This bond is under the classification of a financial guarantee. A utility bond is not a state or federal requirement, but required by a private obligee. Water companies along with power companies are usually the obligee for these types of bonds. The surety bond guarantees the payment of your utility bills. We have great programs for clients that have credit issues or financial problems. Rates for Preferred credit can go as low as 1% if you qualify. The basic rate for these bonds are set at 2%.