Financial Assurance for the closure and post-closure of a permitted solid waste facility can be met by using one or a combination of the mechanisms listed in Env-Sw 1403.03. Per Title 40 of the Code of Federal Regulations (40 CFR 264.151) and the NH Solid Waste Rules, DES is required to use specific wording for some of the mechanisms and templates are provided below.
- Irrevocable Letter of Creditissued for a period of at least one year from an institution whose operations are regulated and examined by a federal or New Hampshire state agency and found to be in good standing.
- Surety Bondissued by a surety company listed as an acceptable surety on federal bonds in the US Department of Treasury’s Listing of Approved Sureties (Circular 570).
- Trust Fundestablished in accordance with the laws of the state of New Hampshire.
The dollar amount guaranteed by a financial assurance mechanism shall be no less than the estimated total closure costs determined by a facility’s closure cost estimate.
PLEASE NOTE: If using a Surety Bond or Irrevocable Letter of Credit, a Standby Trust Agreement must be established to receive the funds, if necessary.
The standby trust shall be established with a financial institution that has the authority to act as a trustee and whose operations are regulated and examined by a federal or NH state agency.
All original Financial Assurance documents must be filed with and approved by DES before operational approval is issued.
Permittees using the state approved local government financial test (LOGO) to satisfy financial assurance requirements for an unlined landfill may now use a one-page document to report information.
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