What is a Florida Hazardous Waste Bond?
Protect the environment through this surety bond!
There are several types of hazardous waste bonds that an owner or operator of a hazardous waste facility is mandated to obtain. These are the following:
- Closure Trust Fund Surety Bond – guaranteeing payment into the closure trust fund
- Performance of Closure Surety Bond – guaranteeing the performance of closure of the hazardous waste facility
- Post-Closure Trust Fund Surety Bond – guaranteeing payment into the post-closure trust fund
- Performance of Post-Closure Surety Bond – guaranteeing the performance of post-closure of the hazardous waste facility
- Sudden Accidental Occurrences Surety Bond – covers any injuries and property damage to third parties due to sudden accidental occurrences in the facility
- Non-sudden Accidental Occurrences Surety Bond – covers any injuries and property damage to third parties due to non-sudden accidental occurrences in the facility
A breach of the relevant laws and rules pertaining to the closure, post-closure, or accidental occurrences committed by the hazardous waste facility will result in a bond claim.
What is the Hazardous Waste Bond amount?
Closure Trust Fund Surety Bond & Performance of Closure Surety Bond – the bond amount must be equal to the current closure cost estimate
Post-Closure Trust Fund Surety Bond & Performance of Post-Closure Surety Bond – the bond amount must be equal to the current post-closure cost estimate
Sudden Accidental Occurrences Surety Bond – the bond amount is $1,000,000 per occurrence or an annual aggregate of $2,000,000
Nonsudden Accidental Occurrences Surety Bond – the bond amount is $3,000,000 per occurrence or an annual aggregate of $6,000,000
If you have a stellar credit score, you will be eligible for a low bond premium.
Get your FREE SURETY BOND QUOTE RIGHT HERE!
How can I get a Hazardous Waste Bond?
Here’s how to get bonded:
- You have to send an application to us. If you are ready to do that now, you may APPLY HERE!
- After we have received your application, we will ask you to submit the necessary information needed for the underwriting process. These are the following:
- Your financial capability
- Your business or job performance history
- Your credit score
An expert underwriter will carefully evaluate all three in order to attain the best credit decision possible. To avoid any delay, the information that you should submit should be organized and concise.
- Your surety bond will be issued and sent to you!
What are the surety bond conditions?
- The surety should be listed on the Federal bonds in Circular 570 of the U.S. Department of the Treasury
- The bonded owner or operator must comply with the provisions of Title 40 of the Code of Federal Regulations, as well as the Department of Environmental Protection of the State of Florida
- If the bonded owner or operator commits a valid violation, the aggrieved party will be eligible to file a claim against the surety bond
- The bond should be submitted to the Regional Administrator
Ready to start on your bond? APPLY HERE!