Site Remediation Reform Act (SRRA) Listserv Archives
|From:||NJ Department of Environmental Protection NJDEP@public.govdelivery.com|
|Date & Time:||10/1/2020 3:55:00 PM|
|Subject||[EXTERNAL]: Model Surety Bond Remediation Funding Source mechanism now available|
[EXTERNAL]: Model Surety Bond Remediation Funding Source mechanism now available
The New Jersey Department of Environmental Protection (Department), in accordance with N.J.S.A. 58:10B-3.i, has posted a new model Remediation Funding Source mechanism, specifically, a Payment Bond-type Surety Bond. The model document has been published on the Department's RFS Guide web page at https://www.nj.gov/dep/srp/guidance/rfsguide/#rfs_mechanisms. Pursuant to N.J.S.A. 58:10B-3.i, use of this model document is being allowed in advance of the pending rule adoption for changes to the Administrative Requirements for the Remediation of Contaminated Sites (ARRCS) at N.J.A.C. 7:26C-5. For parties choosing to use a Surety Bond, use of the model document is required under N.J.S.A. 58:10B-3.i, and the language of the model document as published cannot be modified. Please note, however, that this model document may be subject to future updates and changes by the Department, which may require an amendment to or replacement of any Surety Bond established using this model document prior to the rule adoption.
If a party required to establish a Remediation Funding Source chooses to use a Surety Bond:
The original Surety Bond, Remediation Cost Review and RFS/FA Form and 1% surcharge check should be mailed to:
Bureau of Case Assignment & Initial Notice
Note that this Surety Bond mechanism can only be used for RFS. The Department is developing a Surety Bond mechanism specific for Financial Assurance.
Please contact Jennifer.firstname.lastname@example.org with any questions.
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