Utility Deposit Bond - City of Thomasville, GA in Georgia

Brief Summary

Opening a commercial account with City of Thomasville Utilities usually means a cash security deposit. The city lets commercial customers use a bond in place of that cash, so the money stays in your operating account instead of sitting with the utility until the account closes.

City of Thomasville Utilities sets security deposits based on a soft credit check. Its commercial utilities application states that customers may use a bond from their insurance company in lieu of a cash deposit. The bond guarantees the utility that your bills will be paid, and the amount is set by the utility based on the deposit it would otherwise require.

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How to Apply for a Utility Deposit Bond:

• Submit the Thomasville commercial utilities application.
• Call Customer Service at (229) 227-7001 to request the bond option and the required amount.
• Have the legal business name exactly as it appears on the utility account.
• Complete the bond application and pay the premium.
• Deliver the executed bond to City of Thomasville Utilities in place of the cash deposit.

Detailed Information About the Georgia Utility Deposit Bond:

The bond replaces the cash deposit

Many business owners assume a utility deposit has to be paid in cash. The City of Thomasville commercial utilities application says otherwise: customers may utilize a bond from their insurance company in lieu of cash deposits. To use that option, the city asks customers to call Customer Service at (229) 227-7001.

How the deposit amount is set

Thomasville Utilities deposits vary based on the results of a soft credit check. The city FAQ gives residential examples: some customers pay no deposit, others pay $150, $300 or the maximum of $400, and water only service carries a $50 deposit. There is no deposit for garbage only accounts. Commercial deposit amounts are not published, so the bond amount comes from the utility when you apply.

What the bond guarantees

The City of Thomasville is the obligee. The bond guarantees that the account holder will pay utility charges. If a final bill goes unpaid, the city may claim against the bond, and the surety then looks to the business to repay it.

Other ways to reduce the deposit

The FAQ notes that a customer with two or more years of perfect payment history with another utility can provide a letter of credit from that utility to waive the security deposit. Deposits are applied to the final bill when an account closes, and a refund can be requested after two years of perfect payment history.

Eligibility and Requirements for a Georgia Utility Deposit Bond:

• City of Thomasville named as obligee.
• Bond amount set by the utility based on the deposit it would otherwise require.
• Authorization for the utility to check credit, employment or business ownership.
• Updated credit information on request if the business's financial condition changes.
• Confirm the current bond form and filing steps with Thomasville Customer Service before the bond is issued.

Georgia Utility Deposit Bond FAQs:

Official and Additional Resources for the Georgia Utility Deposit Bond: