Okefenoke REMC deposit bonds.
From $100.
Okefenoke Rural Electric Membership Corporation will accept a surety bond in place of the cash deposit it would otherwise require to start or continue electric service. Under its own rules, that deposit cannot exceed 2.5 times your highest estimated or actual monthly bill. Premiums cost 2% of the bond amount, $100 minimum.
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How much does an Okefenoke REMC 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 Okefenoke REMC 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 Okefenoke REMC set (up to 2.5× your highest monthly bill), and the effective date — that is the application.
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 Okefenoke REMC
Send the executed bond to Okefenoke REMC's member services department so your cash-deposit requirement is released. Wet-ink originals mailed on request.
What it is and who needs it.
What the Okefenoke REMC deposit bond actually does
Okefenoke Rural Electric Membership Corporation is a member-owned, nonprofit electric cooperative serving over 42,000 commercial, industrial, and residential accounts across southeast Georgia (and part of northeast Florida) from its headquarters in Nahunta. Rather than compel a member to leave a cash security deposit on file, Okefenoke REMC will accept a surety bond in the same amount instead.
It is a three-party arrangement: you (the principal), the surety carrier, and Okefenoke REMC (the obligee). If the account goes unpaid, the cooperative can claim against the bond up to the stated amount; if the surety pays, you repay the surety — the bond is not insurance for you.
Under the cooperative's own deposit rule, a required deposit — or the bond that replaces it — may not exceed two and one-half times your highest estimated or actual monthly bill, and Okefenoke REMC may waive part of that figure based on your credit factors. Enter the amount stated on your service or deposit notice; 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 Okefenoke REMC. Send the executed bond to Okefenoke REMC's member services department 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 Okefenoke REMC 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 Okefenoke REMC cash deposit with one bond.
2% of the bond amount, $100 minimum. Enter the amount the cooperative set and see your exact price.