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Alabama Power Company - Indemnity Bond For Electric Service And/Or Steam Heat


Product Number: 117707
Alabama Power Company - Indemnity Bond For Electric Service And/Or Steam Heat

Price: To Be Determined




Surety: Merchants Bonding Company

Credit Check Required
Underwriting Required
Application Required

BOND NUMBER ______________ INDEMNITY BOND FOR ELECTRIC SERVICE AND/OR STEAM HEAT FURNISHED BY ALABAMA POWER COMPANY KNOW ALL MEN BY THESE PRESENTS, that __________________________________________________________________________, as principal, and ________________________________________________________________, Iowa a corporation organized and existing under the laws of the State of ________________________, and duly authorized to conduct and carry on a general surety business in the State of Alabama, as surety, are each held and firmly bound unto the Alabama Power Company, as obligee, in the full and just sum of __________________________________________________________________ (__________________________) lawful money of the United States of America, for the payment whereof well and truly to be made the said principal and the said surety each hereby bind themselves, their respective heirs, legal representatives, successors and assigns, jointly and severally, firmly by these presents, WHEREAS, the principal has applied to Alabama Power Company for electric service and/or steam heat as applicable; and WHEREAS, under the rules and regulations of the Alabama Public Service Commission, it is necessary for the principal to furnish security for the prompt payment of all electric and/or steam bills for service furnished and supplied the principal by the obligee, regardless of service location or time of initiation of service; and WHEREAS, the principal desires to post this bond in lieu of a cash deposit as security for the payment of electric and/or steam heat bills, NOW, THEREFORE, the condition of this obligation is such that if the said principal shall well and faithfully perform the obligations herein recited and shall promptly pay all bills rendered by the obligee to said principal for electric service and/or steam heat service as provided in this bond and the rules and regulations of the Alabama Public Service Commission, then the above obligation shall be null and void, otherwise to remain in full force and effect, and the surety herein agrees to pay, within ten (10) days after written demand for payment by the obligee, any delinquent electric and/or steam heat bills rendered by the obligee to the principal herein if such bills are not paid by said principal within fifteen (15) days from the date of the said bills. (10/06) THIS BOND IS ISSUED AND EXECUTED SUBJECT TO THE FOLLOWING CONDITIONS: 1. That the surety company reserves the right to cancel this bond by giving thirty (30) days written notice to the obligee addressed to the Division Accounting Manager, Birmingham Division, Alabama Power Company, 600 North 18th Street, Birmingham, Alabama 35291-1135. On the effective date of such thirty-day cancellation notice, the surety is discharged and relieved of any liability, it being understood and agreed, however, that the said principal and surety will be liable for any loss accruing up to the effective date of said thirty-day cancellation notice, in no event, however, in excess of the penalty of this bond. 2. That it is expressly understood by the principal and surety herein that the obligee may, by giving fifteen (15) days written notice, cancel this bond or require and endorsement hereon increasing the penal amount provided in this bond so that the said penal amount shall be equal to at least two times the amount of the highest monthly electric bill rendered by the obligee. 3. This bond shall be effective from and after the ________ day of _________________, 20____. Signed, sealed and delivered in the prescence of: PRINCIPAL: __________________________(SEAL) ______________________________ By: __________________________________________ As to Principal Its: __________________________________________ SURETY: ______________________________ By: __________________________________________ Attorney-In-Fact As to Surety Its: __________________________________________ PRINCIPAL: ______________________________________________________________________________ SURETY COMPANY NAME: ______________________________________________________________________________ SURETY COMPANY ADDRESS: _____________________________________________________ _____________________________________________________ SURETY COMPANY : _____________________________________________________ SURETY COMPANY : _____________________________________________________ BOND NUMBER: _____________________________________ Shown below is a separate listing of each account covered by this bond: Account Name: __________________________ Account Number (10 digits): __________________________ Service Address (including Alabama city): __________________________ Secured Amount: __________________________ Account Name: __________________________ Account Number (10 digits): __________________________ Service Address (including Alabama city): __________________________ Secured Amount: __________________________ Account Name: __________________________ Account Number (10 digits): __________________________ Service Address (including Alabama city): __________________________ Secured Amount: __________________________ Account Name: __________________________ Account Number (10 digits): __________________________ Service Address (including Alabama city): __________________________ Secured Amount: __________________________


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