Utility Deposit (Electrical) Bond - City of Cartersville, GA in Georgia

Brief Summary

A new commercial electric account with the Cartersville Electric System can carry a deposit large enough to matter. A utility deposit bond lets the customer guarantee the account through a surety instead of leaving cash on deposit with the city, when the city accepts one.

The City of Cartersville, Georgia owns the Cartersville Electric System, which serves Cartersville and portions of Bartow County. This utility deposit bond guarantees the city that an electric account holder will pay for power used, and it is posted in place of a cash electric deposit. The City of Cartersville is the obligee. The city's gas system is a separate account with its own deposit and its own bond.

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How to Apply for a Utility Deposit (Electrical) Bond:

• Call City of Cartersville Customer Service at 770-387-5607 for the electric deposit amount on your account.
• Ask whether a surety bond is accepted in place of cash and get the exact obligee wording.
• Provide the legal name of the account holder exactly as it will appear on the electric account.
• Complete the bond application and review the quoted premium.
• Pay the premium and deliver the signed original bond to the city.

Detailed Information About the Georgia Utility Deposit (Electrical) Bond:

Electric and gas are separate bonds

Cartersville runs both an electric system and a natural gas system. A business taking both services may face a deposit on each account. This page covers the electric account only. If the city also requires a gas deposit, that is secured with a separate gas utility deposit bond.

What the bond does

The bond names the City of Cartersville as obligee for the Cartersville Electric System account. If the electric account goes unpaid, the city can claim against the bond. The surety pays up to the bond amount and then collects that amount from the customer. The customer still pays every monthly bill.

What to confirm with the city

The deposit amount on an electric account, whether a bond will be accepted in place of cash, and the bond wording all come from the City of Cartersville. Call city Customer Service at 770-387-5607, or visit 10 N. Public Square in Cartersville, and confirm the amount, the exact obligee name and where the original bond should be delivered before it is issued.

How the premium is set

Premium is a yearly charge based on the bond amount and the credit and financial strength of the account holder. It is not a deposit and is not refunded when the account closes.

Eligibility and Requirements for a Georgia Utility Deposit (Electrical) Bond:

• City of Cartersville, Georgia named as obligee for the Cartersville Electric System account.
• Bond amount equal to the electric deposit the city sets.
• Principal name matching the electric account holder.
• Surety authorized to write bonds in Georgia.
• Credit review of the business and its owners.

Georgia Utility Deposit (Electrical) Bond FAQs:

Official and Additional Resources for the Georgia Utility Deposit (Electrical) Bond: