§ 800.14 - Determination of bond amount.

§ 800.14 How will the regulatory authority determine the amount of performance bond required?Determination of bond amount.

(a) The regulatory authority must determine the amount of the performance bond required for the permit or permit increment based upon, but not limited to -

(1) The

each bonded area shall:

(1) Be determined by the regulatory authority;

(2) Depend upon the requirements of the approved permit

, including the

and reclamation plan

.

;

(

2

3)

The

Reflect the probable difficulty of reclamation, giving consideration to

the

such factors as topography, geology, hydrology, and revegetation potential

of the permit area.

(3) The estimated reclamation costs ; and

(4) Be based on, but not limited to, the estimated cost submitted by the permit applicant.

(b) The amount of the performance bond must shall be sufficient to assure the completion of the reclamation plan if the work has to be performed by a third party under contract with the regulatory authority in the event of forfeiture.

(c) The amount of financial assurance, collateral bond, or surety bond required to guarantee long-term treatment of discharges must be determined in accordance with § 800.18 of this part.

(d) The total performance

, and in no case shall the total bond initially posted for the entire area under one permit

may not

be less than $10,000.

(

e

c)

The permittee

An operator's financial responsibility under § 817.121(c) of this chapter for repairing

or compensating for

material damage resulting from subsidence may be satisfied by the liability insurance policy required under § 800.60

of this part.

.

[48 FR 32959, July 19, 1983, as amended at 81 FR 93381, Dec. 20, 2016; 82 FR 54972, Nov. 17, 2017]