Gallatin Dept. of Electricity deposit bonds.
2% of the bond amount, $100 minimum.
The Gallatin Department of Electricity (GDE) can require a security deposit for a general power customer’s account, which a surety bond can satisfy in place of cash. GDE sets the figure per account; premiums run 2% of the bond amount, with a $100 minimum.
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Apply to filed in one sitting.
No underwriting queue for the standard utility deposit bond — enter your amount, pay, and deliver it to GDE. Here is the whole thing:
Apply online
Your account details, the deposit amount GDE required, and the effective date — that is the entire application.
Issued
The executed bond is generated as soon as you pay. A soft credit pull may inform pricing on larger amounts and never affects your score.
Deliver to GDE
Submit the executed bond to the Gallatin Department of Electricity in place of your cash deposit. Wet-ink originals mailed on request.
What it is and who needs it.
What the utility deposit bond actually does
The Gallatin Department of Electricity distributes electric service to the city of Gallatin. GDE can require a security deposit from a general power customer. Posting a surety bond instead of cash keeps your working capital free while GDE stays protected.
It is a three-party arrangement: you (the principal), the surety carrier, and the Gallatin Department of Electricity (the obligee). If the account goes unpaid, GDE can apply the deposit — or recover against the bond — toward the unpaid balance; any remainder is refunded to the customer on termination of service.
It is not insurance for you — if the surety pays a claim, you repay the surety. GDE sets the exact deposit figure per applicant; there is no single published number. We issue the amount GDE names, priced at 2% of the bond amount with a $100 minimum.
You need this bond if you are
One application, issued instantly.
Submit the application with the deposit amount GDE set — the executed bond is generated as soon as you pay, ready to deliver.
Start the application →Common questions.
Other Tennessee bonds.
Bond your deposit, keep your cash.
Premiums at 2% of the bond amount, $100 minimum. Enter GDE’s deposit figure and deliver the same day.