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Recycling Center Financial Assurance
Recycling centers may be required to obtain and provide evidence of financial assurance pursuant to N.J.A.C. 7:26A-3.4(c) at the discretion of the Department. The amount of assurance posted shall be an amount which will allow for the proper removal, transportation and disposition of all materials which could be abandoned on a recycling center site. Criteria used to determine if financial assurance is needed, and to be used in establishing the financial assurance amount, are specified in the regulation.
For privately-owned facilities, the financial assurance shall be a performance bond or letter of credit worded as specified at N.J.A.C. 7:26A-3.4(d) or (e). For publicly-owned facilities, the financial assurance may be an identification of specific funds which are to be wholly dedicated to ensure payment of the financial obligation.
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