Gallatin Dept. of Electricity deposit bonds.
From $100.
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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How much does a Gallatin Dept. of Electricity deposit bond cost?
2% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. 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 application.
Issued
The executed bond is generated as soon as you pay. No credit check up to $15,000.
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
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
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 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.
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.
Price and requirements checked on the carrier’s application, . Page updated .
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.