Commercial applicant’s deposit will be determined in the following manner:
Minimum Risk-Commercial applicants who display an IntelliScore of 80 to 100 shall pay a deposit of 1 times highest monthly usage of the service address during the prior 12 months.
Moderate Risk-Commercial applicants who display an IntelliScore of 79 or lower shall pay a deposit of 2 times the highest monthly usage of the service address during the prior 12 months.
Commercial applicant’s deposit will be determined in the following manner:
Sole proprietorships will have an ONLINE Utility Exchange report pulled on the sole proprietor and charged the corresponding deposit.
Partnerships, Limited Liability Companies (LLC) and Limited Liability Partnerships (LLP) that are less than 1 year old will have an ONLINE Utility Exchange Report pulled on the managing partner or managing director, as appropriate, and the corresponding deposit will be charged. If the entity is over 1 year old, an IntelliScore Report will be pulled and a deposit charged as described above.
Commercial applicants who are corporations, regardless of whether they are Subchapter S or full “C” Corporations, or any corporation that has a corporate headquarters outside of our service area (foreign corporation), shall have their credit risk based upon the ONLINE Utility Exchange’s Business Profile Report and IntellieScore Report.
North East Mississippi Electric Power Association’s deposit policy is designed to assess the credit risk associated with all applications for new or continued service while protecting the assets of our membership.
It is important that every employee of North East Mississippi Electric Power Association understands and supports our policy of treating those customers who act responsibly and pay their bills on time with the respect their actions deserve. Likewise, we must also appreciate that it is not fair that those good-paying customers pay the financial burden of those who act irresponsibly and do not pay for their service as agreed. Thus, it is vital to our success that we adopt and strictly adhere to the policy of shifting the financial burden of potential bad debt away from our best customers to those who pose a credit risk. This policy is aimed at accomplishing that task.
It is also important to note that most of our customers will not be charged a deposit because they pose little credit risk. Likewise, those customers who have not established credit or pose substantial credit risk deserve to bear the financial risk of providing service to them, mitigated through a credit-based deposit policy that shifts the financial burden they may pose off of our best-paying customers and onto those who, in fact, pose a risk.
This policy is based upon the use of a new technology-based screening tool called the Online Utility Exchange to assess credit risk at the point of application and charge higher deposits to those potential members and existing members who pose a credit risk.
North East Mississippi Electric Power Association shall consider the status of the applicant and act according to the following criteria:
New-service applicants who sign up for Prepay will be charged a deposit of $25. View our Prepay Contract (PDF).
New-service applicants who pose no credit risk will not be charged a deposit.
New-service applicants who pose a minimal risk will be charged a deposit of $200.
New-service applicants who pose a substantial credit risk will be charged a deposit of $400.
A customer who has had service terminated or has an unpaid utility bill returned by the Online Utility Exchange shall pay a maximum deposit.
A service applicant who provides a social security number that is returned as deceased, non-issued, belonging to a person under the age of 18, belonging to a person other than the applicant, or is fraudulent, shall be required to provide a valid social security number as well as additional proof of identity, i.e. valid driver’s license, social security card, etc. before service will be activated.
North East Mississippi Electric Power Association cannot demand that an applicant provide their social security number as a requirement for service. However, it is our policy that applicants who refuse to provide their social security number pose a greater risk and shall be charged the maximum deposit.
Note: For customers who have been disconnected more than twice in a 12-month period, deposits will be increased to the High-Risk amount. In cases of extreme hardship, the Association may collect the deposit in monthly installments, not to exceed 4 months.
If a member requests a temporary service to build a new primary residence and has a history of prompt payment, said member will not be required to put up an additional deposit. An older home that needs renovation will qualify for a temporary service. If a member wishes to leave an old residence active after moving, then the deposit for an additional meter will apply.
Persons requesting membership and service must present a valid social security number or government-issued identification along with a picture ID for proper identification. Business and commercial accounts may be established using the principal’s name and social security number or the business name and a valid Federal Identification Number (FIN). A membership fee of $10 shall be collected from all members.
