Utility Deposit Bond - Cobb County Water System in Georgia

Brief Summary

A water and sewer deposit for a commercial account can sit with the utility for as long as the account is open. A utility deposit bond lets a business ask Cobb County Water System to accept a surety guarantee in place of that cash, keeping the money in the business for payroll, inventory or equipment.

The utility deposit bond is posted by a water customer in favor of Cobb County Water System, an agency of Cobb County Government. It guarantees payment of water, sewer and related utility charges up to the bond amount if the account is closed or left unpaid. Confirm with Cobb County Water System customer service that a bond is accepted for your account, and the amount required, before the bond is issued.

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How to Apply for a Utility Deposit Bond:

• Confirm your service address is billed by Cobb County Water System.
• Ask customer service at 770-419-6200 for the deposit amount and whether a surety bond is accepted.
• Request the water system's bond form if it uses one.
• Provide the account name exactly as it appears on the water service application.
• Pay the premium and receive the signed bond naming Cobb County Water System as obligee.
• Deliver the original bond to the water system and confirm the deposit requirement is satisfied.

Detailed Information About the Georgia Utility Deposit Bond:

Which utility this covers

Cobb County Water System is an agency of Cobb County Government. It handles water distribution, wastewater collection and treatment, and stormwater management. It has served unincorporated Cobb County since 1941 and also serves Acworth, Kennesaw, Powder Springs and Mableton. Not every Cobb address is billed by the county system, so check which provider bills your address before buying a bond.

What the bond does

The customer is the principal, Cobb County Water System is the obligee and the surety company guarantees payment. The bond stands in for a cash deposit. If the account closes with an unpaid balance, the water system can claim against the bond up to its face amount, and the surety then seeks repayment from the customer. The customer still pays every monthly bill as usual.

Confirm the details first

The deposit amount and whether a bond is accepted are set by the water system for each account. Call Cobb County Water System customer service at 770-419-6200 and confirm the amount, whether a specific bond form is required and where to send the original before the bond is issued.

Cost

The premium is a small share of the bond amount and is set by the surety after reviewing the owner's credit and business history.

Eligibility and Requirements for a Georgia Utility Deposit Bond:

• Cobb County Water System named as obligee.
• Bond amount equal to the deposit the water system sets for the account.
• Customer name on the bond matching the service account.
• Surety company authorized to write bonds in Georgia.
• Credit review of the business owner by the surety, which mainly affects the premium.

Georgia Utility Deposit Bond FAQs:

Official and Additional Resources for the Georgia Utility Deposit Bond: