Diverse Power deposit bonds.
From $100.
Diverse Power Incorporated will accept a surety bond in place of the cash deposit it would otherwise require to start or continue electric service. The bond names Diverse Power as obligee in the amount it sets for your account. Premiums cost 2% of the bond amount, $100 minimum.
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How much does a Diverse Power deposit bond cost?
2% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
The Diverse Power deposit bond has no long underwriting queue for the standard amount — enter your figure, apply, and send the executed bond to the cooperative. Here is the whole thing:
Apply online
Your account details, the bond amount Diverse Power set, and the effective date — that is the application. No credit check up to $15,000.
Priced and issued
The premium is 2% of the bond amount, $100 minimum, and the executed bond is generated as soon as you pay. Larger amounts may get a brief review.
File with Diverse Power
Send the executed bond to Diverse Power Incorporated so your cash-deposit requirement is released. Wet-ink originals mailed on request.
What it is and who needs it.
What the Diverse Power deposit bond actually does
Diverse Power Incorporated is a member-owned, nonprofit electric cooperative serving Troup, Coweta, Heard, Meriwether, and neighboring west Georgia counties. Rather than compel a member to leave a cash security deposit on file before starting or continuing electric service, the cooperative will accept a surety bond in the same amount instead.
It is a three-party arrangement: you (the principal), the surety carrier, and Diverse Power (the obligee). The bond stands behind your account for electric service up to the amount stated on the bond. If the account goes unpaid, the cooperative can claim against the bond; if the surety pays, you repay the surety — it is not insurance for you.
Diverse Power sets the required amount for each account, typically weighing your payment history and the service address. There is no single statutory figure. Enter the amount the cooperative quoted; we price the bond at 2% of that amount, $100 minimum, and no credit check up to $15,000.
You need this bond if you are
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
File with Diverse Power. Send the executed bond to Diverse Power Incorporated so your cash-deposit requirement is released. Wet-ink originals mailed on request.
What sets the price
The premium is 2% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $15,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
Priced at the application.
Submit the application with the bond amount Diverse Power set for your account — the premium is 2% of that amount, $100 minimum, and the executed bond is ready to send to the cooperative the same day.
Start the application →Common questions.
Other Georgia bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Skip the Diverse Power cash deposit with one bond.
2% of the bond amount, $100 minimum. Enter the amount the cooperative set and see your exact price.