Deposit Requirement
The Hillsdale Board of Public Utilities deposit policy is designed to assess the credit risk associated with applications for new or continued service, while protecting the assets of our utility.
This policy is based upon the use of a technology-based screening tool called the ONLINE Utility Exchange to assess credit risk at the point of application and charge deposits only to those potential customers and existing customers who pose credit risk.
Deposit Criteria
The Hillsdale Board of Public Utilities shall consider the status of the applicant and act according to the following criteria:
New Account:
If a property can be liened as allowed by law, then no deposit will be required. However, ONLINE Utility Exchange will be used to verify identity.
If a property cannot be liened as allowed by law:
- Applicants who return no credit risk (returned by ONLINE Utility Exchange 0.0% to 10.0% risk) will pay no deposit amount, all other deposits will be as follows, (returned by ONLINE Utility Exchange 10.1% to 25.0% risk) will pay $100, (returned by ONLINE Utility Exchange 25.1% to 50.0% risk) will pay $175, (returned by ONLINE Utility Exchange 50.1% to 75.0% risk) will pay $225, (returned by ONLINE Utility Exchange 75.1% to 100.0% risk) will pay $400.
- A service applicant who provides a social security number that is returned as deceased, non-issued, belonging to a person under the age of 18, or belonging to a person other than the applicant, or is fraudulent, shall be denied service until that person supplies a valid social security number.
- Payment of any deposit is expected in full at the time of notification before the account can be established. Payment arrangements will not be accepted on deposits.
Existing Account:
Any existing customer who becomes delinquent and has had two or more disconnects in any consecutive 12-month period, shall be deemed to have an unsatisfactory payment record and must pay a maximum deposit to continue service. The maximum deposit will be an amount of $400.
Payment of any deposit is expected in full at the time of notification. Payment arrangements will not be accepted on deposits.
Deposit Duration
Deposits may be credited to customer accounts after eighteen months if the account has been paid by the specified due dates and no penalties have been incurred, at the discretion of The Hillsdale Board of Public Utilities.
The Hillsdale Board of Public Utilities will refund a deposit upon discontinuance of service. The deposit will be applied against any outstanding balance for utility service and the remainder (if any) will be refunded to the customer
