4.1 ERMU 01-12-2016 - Laserfiche WebLink

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Return of Deposit: Any deposit received by ERMU shall be returned to the customer within 45 days of termination of service,provided that the customer has paid in full all amounts due on the account. If the customer has not paid in full within 30 days of the termination of service, the deposit will be applied to any outstanding amounts owed by the customer to ERMU. If the deposit exceeds the amount due,the balance will be returned to the customer. If the deposit is not sufficient to cover the amount due,the customer shall remain liable to ERMU for the balance and shall pay the balance due within 15 days of notice from ERMU. ERMU reserves the right to use reasonable legal means to collect amounts due. Interest on Deposits: Interest shall be paid on all deposits in excess of$20 at the rate established by Minnesota Statutes. ERMU may, at its option,pay the interest at intervals it chooses,but at least annually,by direct payment or as a credit on the customer's account. Submission of and Exceptions to Deposit Requirement: A. Residential Customers. Residential customers may submit the required deposit at the time service is requested, or have the deposit billed with the customer's first bill for services provided. Failure to pay a deposit when billed shall be cause for ERMU to immediately terminate service. ERMU may, in its discretion,waive the required deposit for residential customers if the customer consents to ERMU's collection of credit history data on the customer, the customer's credit score falls above 90 percent probability of non-default, and the customer has no history of disconnection for non payment to ERMU, and no history of late payments to ERMU two times in 12 months. B. Commercial and Industrial Customers. All commercial and industrial customers shall submit the required deposit and enter into a service agreement with ERMU at the time service is requested. The customer's application for service shall identify the individual or business entity entering into the service agreement. The service agreement shall be an agreement on the part of this individual or business entity to make payment of all amounts billed by ERMU for electric, water and sewer services, and to be liable for any default or non-payment of amounts billed by ERMU. ERMU may, in its discretion,waive or reduce the required deposit for commercial and industrial customers if a service agreement is executed by the customer,the customer has provided ERMU with sufficient information to allow ERMU to analyze the credit risk of the individual or business entity executing the service agreement, and ERMU, in its sole discretion, determines to waive or reduce the deposit required based on its analysis of credit risk. Waivers and/or reductions in the deposit requirement shall be reserved for rare exceptions when the risk of default is minimal. 2 87