Get Procedure For Demonstrating Financial Assurance For A Brine Pond ... - Kdheks

Filling out the Procedure for Demonstrating Financial Assurance for a Brine Pond is a vital step for owners and operators associated with underground hydrocarbon storage facilities. This guide will provide you with clear and concise instructions to successfully complete the form online.

Follow the steps to effectively complete the financial assurance procedure.

1. Press the ‘Get Form’ button to access the necessary documentation and open it for editing.
2. Begin by entering your legal name and business address in the designated fields for the principal on the form.
3. Select the appropriate financial assurance mechanism required for your brine pond, such as a financial guarantee bond, performance bond, irrevocable standby letter of credit, or financial test.
4. If you choose a financial guarantee bond or performance bond, obtain the necessary surety company documentation and ensure that the wording matches the specified format in the procedure.
5. For each mechanism chosen, make sure to establish a standby trust fund and submit the required agreements alongside the primary form.
6. Fill in the current decommissioning and abandonment cost estimate certified by a licensed professional engineer or geologist, as this amount will reflect in the penal sum of the bond.
7. Complete any additional fields as instructed, depending on the chosen financial mechanism, including submitting supportive documentation like financial statements or a letter from the chief financial officer if utilizing the financial test.
8. Once all fields are populated correctly, review your submissions thoroughly for accuracy.
9. Finally, save your changes, and you can choose to download, print, or share the completed form as required.

Ensure compliance and complete your financial assurance documentation online today!