Do all permitted solid waste facilities have to have financial assurance? Financial assurance is required of all permitted solid waste facilities except:
Facilities for which the closure cost estimate is $3,000 or less.
Emergency permit facilities.
Limited private non-landfill facilities.
Publicly-owned non-landfill facilities.
Facilities having coverage under Env-Sw 1900
How much financial assurance does my facility need?
A. Financial assurance shall be in an amount that is no less than the total closure and post-closure costs that are determined based on an estimate approved by DES using representative current market rates. For example, if your facility's cost estimate is in the amount of $50,000.00, the financial assurance mechanism must be at least $50,000.00.
What is the cost estimate based on? A. The amount of financial assurance is based on:
Representative current market rates.
Having a third party perform all required closure and post-closure activities.
The point in the facility's active life when closure would be most expensive.
The extent and manner of facility operations in compliance with permit conditions and applicable laws and rules.
Does DES have model documents for facilities to use?
A. Yes. Model documents are available for letters of credit, surety bonds, standby trust agreements, and trust agreements. Municipalities using the state approved local government (LOGO) financial test to satisfy financial assurance requirements for an unlined landfill may now use a one-page document to report information.