CUC requires a security deposit for all postpaid accounts. Security deposits are fully refundable at the termination of your account, provided no outstanding charges remain. In limited cases, CUC will accept a Letter of Credit from a customer’s bank in lieu of a cash deposit.
Security deposits are calculated using six months of historical charges for the location. A 45‑day average is derived from this data to determine the required deposit. For new properties, or accounts with less than six months of billed consumption, either a load sheet or the number of bedrooms and square footage is required to complete the calculation.
Security deposits of $400.00 or more may be billed over three months. This will appear on each monthly bill as “Deposit.” A security deposit will also be billed if you have been granted a credit facility, such as Payment Arrangements.
All cash deposits held by CUC will accrue interest at the prevailing rate for one-year certificates of deposit on Grand Cayman; the interest rate paid on deposits shall reflect the rates paid by Cayman Islands banks for certificates of deposit above CI$3 million. The deposit interest will be credited to a customer's electricity account monthly, which is reflected on the billing statement as a specific line item "Deposit Interest".