Financial assurance definition

Financial assurance means a commitment of funds or resources by an operator to a regulatory authority that satisfies the requirements in s. 14 and is sufficient to pay for reclamation activities required by this chapter.

Financial assurance means a performance bond, escrow, cash, certificate of deposit, irrevocable letter of credit, corporate guarantee, or other equivalent security, or any combination thereof.

Financial assurance means the mechanisms used to

Examples of Financial assurance in a sentence

• Financial assurance shall be provided by the operator and shall be by a bond or an alternate financial assurance.

• Financial assurance is required for each site and two or more sites of less than one acre by the same operator, except that governmental units are not required to obtain financial assurance.

• Financial assurance must be based on the cost estimates in paragraph (c)(3) of this section.

• The instrument must include requirements for periodic monitoring reports to be submitted to the district engineer, who will provide copies to other IRT members.(3) Financial assurance and long-term management funding report.

• If any Financial Assurance is scheduled to expire or notice is received, indicating Financial Assurance will not be renewed, and satisfactory methods have not been made to replace the Financial assurance at least sixty (60) days before the Financial Assurance terminates, the Financial Assurance shall forthwith be replaced by cash.

More Definitions of Financial assurance

Financial assurance means the mechanisms used to demonstrate that the funds necessary to meet the cost of closure, postclosure maintenance and monitoring, and corrective action will be available whenever they are needed.

Financial assurance means one or more of,

Financial assurance means a remedial action that consists of an assurance provided to ecology under WAC 173-340-440(11) that sufficient financial resources are available to provide for the long- term effectiveness of engineered or institutional controls.

Financial assurance means reasonable assurance from a credit worthy party, examples of which include a surety bond, trust instrument, cash escrow, or irrevocable letter of credit.

Financial assurance means a commitment of funds or re- sources by an operator to a regulatory authority that satisfies the requirements in s. NR 135.40 and is sufficient to pay for reclama- tion activities required by this chapter.

Financial assurance means a mechanism or instrument intended to provide funds if necessary to the department to conduct closure, monitoring, or cleanup of a specific facility or site in accordance with the applicable environmental requirements provided in this title.

Financial assurance means a security required under the Environmental Protection Act 1994 by the administering authority to cover the cost of rehabilitation or remediation of disturbed land or to secure compliance with the environmental authority.