§ 585.516 — What Are The Financial Assurance Requirements For Each Stage Of My Commercial Lease?

(a) The financial assurance requirements for each stage of your commercial lease are:

(b) Each bond or other authorized financial assurance must guarantee compliance with this part, the applicable plan approvals, and the terms and conditions of the lease.

(c) For hydrokinetic commercial leases, supplemental financial assurance may be required in an amount determined by BOEM prior to installation of facilities pursuant to a FERC license.