Customer Deposits CUC requires payment of a cash deposit and completion of the contract before the service is connected. The purpose of the deposit is to secure payment to CUC for electricity consumed. CUC reserves the right, in consultation with Government, to amend the deposit amounts referred to below. Residential All security deposits are assessed according to the following schedule which is set out in CUC's Licence. Residential houses: CI$100 for each bedroom. Apartments and Condos under 1,100 Sq. Ft. (except on Seven Mile Beach): CI$100 for each bedroom. All other Apartments and Condos and Apartments and Condos on Seven Mile Beach: CI$500 per unit. Caymanian owners who occupy their own residence may not be required to pay a security deposit in respect of that residence, provided a good credit record is maintained. Commercial CUC will assess the monthly usage based on electrical appliances installed and will charge a deposit based on six (6) weeks estimated usage. All deposits are refundable, less any balance due for electricity consumed, when the related account is closed. The interest rate on customer deposits is adjusted monthly to equal rates utilised by CUC's primary banker, the Royal Bank of Canada, on one year certificates of deposits.