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Glossary

Class A Certification

11.2   Approved Mechanisms

 

Various mechanisms are permitted to demonstrate financial responsibility, and they can be used separately or in combination. It is recommended that the UST owner or operator should consult with legal and financial experts who are knowledgeable in the use and application of each mechanism.

 

These mechanisms and the applicable section of Comm 10 are:

         Financial test of self-insurance (10.710)

         Guarantee (10.713)

         Insurance and risk retention group coverage (10.715)

         Surety bond (10.717)

         Letter of credit (10.720)

         Trust fund (10.723)

         Standby trust fund (10.725)

         Local government bond rating test (10.727)

         Local government financial test (10.730)

         Local government guarantee (10.733)

         Local government fund (10.735)

 

 

11.3   Alternate Mechanisms

Alternate mechanisms for demonstrating financial responsibility can be used provided they meet the per occurrence and annual aggregate amounts discussed under 9.2.