How do I calculate outstandings for the semi-annual report required?
In addition to the minimum surety bond coverage required, the Department may require additional coverage to ensure adequate protection for citizens doing business with licensees or their authorized agents. Written reports that reveal a licensee’s level of holdings (outstandings) shall be made semi-annually to the Department. Average daily balance of outstanding checks sold in Georgia $____________ (Sum of balance of checks sold in Georgia that remained outstanding at the end of each day of the six month period divided by total number of days in the period OR the sum balance of checks sold in Georgia that remained outstanding at the end of each month-end during the 6 months divided by 6). Average daily balance of undelivered money transfer orders in Georgia $__________ (Sum of balance of Georgia money transfer orders that remained undelivered at the end of each day of the six month period divided by total number of days in the period OR the sum balance of Georgia money transfer orders t
