(a) The form of the performance bond shall be prescribed by the Department in accordance with the provisions of Subchapters 23 of this Chapter and this Subchapter. The Department may allow:

1. (1) A Surety Bond; or
2. (2) A Collateral Bond;

(b) An alternative bonding system may be approved if it will achieve the following objectives and purposes of the bonding program:

1. (1) The alternative must assure that the Department will have available sufficient money to complete the reclamation, restoration, and abatement provisions for all permit areas which may be in default at any time; and
2. (2) The alternative must provide a substantial economic incentive for the permittee to comply with all reclamation provisions.