Code of Federal Regulations (Last Updated: October 10, 2024) |
Title 30 - Mineral Resources |
Chapter VII - Office of Surface Mining Reclamation and Enforcement, Department of the Interior |
SubChapter J - Performance Bond, Financial Assurance, and Insurance Requirements for Surface Coal Mining and Reclamation Operations |
Part 800 - Bond and Insurance Requirements for Surface Coal Mining and Reclamation Operations Under Regulatory Programs |
§ 800.14 - Determination of bond amount.
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§ 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) Theeach bonded area shall:
(1) Be determined by the regulatory authority;
, including the(2) Depend upon the requirements of the approved permit
.and reclamation plan
;
2(
The3)
theReflect the probable difficulty of reclamation, giving consideration to
of the permit area.such factors as topography, geology, hydrology, and revegetation potential
(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.
(d) The total performance(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.
may not, and in no case shall the total bond initially posted for the entire area under one permit
be less than $10,000.
e(
The permitteec)
or compensating forAn operator's financial responsibility under § 817.121(c) of this chapter for repairing
of this part.material damage resulting from subsidence may be satisfied by the liability insurance policy required under § 800.60
.
[48 FR 32959, July 19, 1983, as amended at 81 FR 93381, Dec. 20, 2016; 82 FR 54972, Nov. 17, 2017]