Sample Payment Bond - Settlements
FA Payment Bond-Settlements (.Doc/.Docx, 5 pp, 27 K)
Model Information
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Sample payment bond for use as a financial assurance mechanism in a CERCLA settlement agreement. In general, through payment (surety) bonds, companies qualified to issue such bonds (surety companies) guarantee to EPA that they will pay for (up to a specified amount) potentially responsible parties’ (PRPs) cleanup obligations under settlement agreements if such PRPs are unable to do so.
Supporting Documents
Issuance of CERCLA Financial Assurance Guidance, Updated and New Sample Mechanisms, and Model Language Provisions for Unilateral Administrative Orders
Date: 04/06/2015
Includes information relating to FA mechanisms that may be available to PRPs to satisfy their FA obligations under settlements and orders for remedial and removal actions.
Revision History
Technical change
11/12/2019
- Page 1 - Changed SITE INFORMATION from "EPA" to "Site/Spill" identification