Viewing an earlier version · effective Jan 25, 2017View current (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 requirements of the permit, including the reclamation plan.
- (2) The probable difficulty of reclamation, giving consideration to the topography, geology, hydrology, and revegetation potential of the permit area.
- (3) The estimated reclamation costs submitted by the permit applicant.
- (b) The amount of the performance bond must 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 bond initially posted for the entire area under one permit may not be less than $10,000.
- (e) The permittee'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.