30 C.F.R. § 553.31 – How can I use a surety bond as OSFR evidence?

(a) Each bonding company that issues a surety bond that you submit to BOEM as OSFR evidence must:
1. (1) Be licensed to do business in the State in which the surety bond is executed;
2. (2) Be certified by the U.S. Treasury Department as an acceptable surety for Federal obligations and listed in the current Treasury Circular No. 570;
3. (3) Provide the surety bond on Form BOEM-1020; and
4. (4) Be in compliance with applicable statutes regulating surety company participation in insurance-type risks.
(b) A surety bond that you submit as OSFR evidence must include all the information required by § 553.41.