Utility Deposit (Electric) Bond - East Point Power in Georgia

Brief Summary

East Point Power takes a deposit before it turns on electric service, and the city's ordinance applies that rule to every customer. For a business that would rather keep cash in operations, a utility deposit bond offered in place of the cash deposit, where the city accepts one, lets the account open on the same schedule.

The City of East Point requires a deposit and a $60 connection fee to start electric service for all customers. The posted electric deposit is $125 for residential accounts and $150 for commercial accounts, with separate water deposits where water service is added. A utility deposit bond guarantees the city will be paid for unpaid electric bills up to the bond amount, and the customer should confirm with East Point Customer Care that a bond is acceptable for the account before it is issued.

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

• Confirm with East Point Customer Care that a surety bond is acceptable for the account and the required amount.
• Gather a current driver's license or state ID and a copy of the lease, rental agreement or deed.
• Have the Federal Tax ID number and a copy of the business license, or the license application with receipt and Certificate of Occupancy releases.
• Provide corporation or LLC papers showing officers and the Secretary of State seal, if incorporated.
• Complete the bond application and review the quoted premium.
• Deliver the executed bond with the commercial utility application and pay the $60 connection fee.

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

Every customer pays a deposit

East Point's Customer Care page states that the city ordinance requires a deposit and a connection fee to start service for all customers. There is no posted waiver for good credit or prior service history.

Posted amounts

Residential electric service carries a $125 deposit and commercial electric service a $150 deposit. Each new account also pays a $60 connection fee. Adding water service brings a separate water deposit of $75 for residential or $100 for commercial accounts. Temporary or T-pole commercial service carries a $150 deposit. Same-day connection is available to residential customers for an extra $40 when requested by 3:30 pm, and is not offered for commercial accounts.

Where the bond fits

A utility deposit bond names the City of East Point as obligee and guarantees payment of the customer's electric bills up to the bond amount, standing in for the cash deposit. The city's public pages list the cash figures above and do not set out bond terms, so confirm with East Point Customer Care that a surety bond is acceptable for your account and the amount it should carry before the bond is issued.

Moving or closing an account

Moving to another East Point property and adding services triggers a new deposit plus the $60 connection fee. When service ends, the city applies the deposit to the final bill and refunds any difference. If the final bill is larger than the deposit, the balance is due within 45 days after the due date or the account goes to collections.

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

• City of East Point named as obligee.
• Bond amount matching the deposit the city requires for the account.
• Customer name on the bond matching the utility service application.
• A notarized letter of authorization if the applicant is not the owner, lessee or tenant.
• One additional ID document from the city's list for commercial applications.

Georgia Utility Deposit (Electric) Bond FAQs:

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