Georgia Power Company Surety Bond (Utility Bond ~ Georgia Power Co.)

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Bond Penalty: Set by Obligee

A utility bond, or security deposit bond is a type of financial guarantee that allows a utility services provider a hedge the credit risk of non-payment of a services. This Georgia Power Company surety bond is generally required for new connections when the applicant has no payment history, based on unsatisfactory applicant credit, or a history of delinquency(ies) with the Georgia or other utility. These surety bonds are strict financial guarantees and are often subject to adverse selection so underwriting efforts are focused on the financial strength and creditworthiness of the applicant.

The Georgia Power Company surety bond [principal is also subject to the state laws that obligate both principal and surety to prompt payment compliance. Per GA Code § 10-7-30 (2022), "In the event of the refusal of a corporate surety to commence the remedy of a default covered by, to make payment to an obligee under, or otherwise to commence performance in accordance with the terms of a contract of suretyship within 60 days after receipt from the obligee of a notice of default or demand for payment, and upon a finding that such refusal was in bad faith, the surety shall be liable to pay such obligee, in addition to the loss, not more than 25 percent of the liability of the surety for the loss and all reasonable attorney’s fees for the prosecution of the case against the surety." The statutory language "puts teeth" into the obligee's pursuit of a utility debt and also creates a surety obligation that can run in excess of the bond penalty. Questions about the utility bond may be directed to:

Georgia Power Company
2500 Patrick Henry Pky
NonCash Securities BIN 80003
McDonough, GA 30253

Georgia surety bond leader, Surety One, Inc. offers same-day quoting of your utility bond need. Residential and commercial accounts are welcome. Our special program affords access to surety support regardless of applicant credit and financial condition. For more information call (800) 373-2804, email or click here to discuss an Georgia Power Company utility bond.

Surety bond application review and quoting are free of charge. There is no obligation to purchase.

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  • Current Business Financial Statement