14 C.F.R. § 450.15 Demonstration of compliance.
Title 14 - Aeronautics and Space
(a) A licensee must submit evidence of financial responsibility and compliance with allocation of risk requirements under this part, as follows, unless a license order specifies otherwise due to the proximity of the licensee's intended date for commencement of licensed activities: (1) The waiver of claims agreement required under §450.17(c) of this part must be submitted at least 30 days before commencement of licensed launch activities involving the reentry licensee; (2) Evidence of insurance must be submitted at least 30 days before commencement of licensed launch activities involving the reentry licensee; (3) Evidence of financial responsibility in a form other than insurance, as provided under §450.9(f) of this part, must be submitted at least 60 days before commencement of licensed launch activities involving the reentry licensee; and (4) Evidence of renewal of insurance or other form of financial responsibility must be submitted at least 30 days in advance of its expiration date. (b) Upon a complete demonstration of compliance with financial responsibility and allocation of risk requirements under this part, the requirements shall preempt any provisions in agreements between the licensee and an agency of the United States governing access to or use of United States reentry property or reentry services for licensed reentry activities which address financial responsibility, allocation of risk and related matters covered by 49 U.S.C. 70112, 70113. (c) A licensee must demonstrate compliance as follows: (1) The licensee must provide proof of insurance required under §450.9 by: (i) Certifying to the Office that it has obtained insurance in compliance with the requirements of this part and any applicable license order; (ii) Filing with the Office one or more certificates of insurance evidencing insurance coverage by one or more insurers under a currently effective and properly endorsed policy or policies of insurance, applicable to licensed reentry activities, on terms and conditions and in amounts prescribed under this part, and specifying policy exclusions; (iii) In the event of any policy exclusions or limitations of coverage that may be considered usual under §450.19(c) of this part, or for purposes of implementing the Government's waiver of claims for property damage under 49 U.S.C. 70112(b)(2), certifying that insurance covering the excluded risks is not commercially available at reasonable cost; and (iv) Submitting to the Office, for signature by the Department on behalf of the United States Government, the waiver of claims and assumption of responsibility agreement required by §450.17(c) of this part, executed by the licensee and its customer. (2) Certifications required under this section must be signed by a duly authorized officer of the licensee. (d) Certificate(s) of insurance required under paragraph (c)(1)(ii) of this section must be signed by the insurer issuing the policy and accompanied by an opinion of the insurance broker that the insurance obtained by the licensee complies with the specific requirements for insurance set forth in this part and any applicable license order. (e) The licensee must maintain, and make available for inspection by the Office upon request, all required policies of insurance and other documents necessary to demonstrate compliance with this part. (f) In the event the licensee demonstrates financial responsibility using means other than insurance, as provided under §450.9(f) of this part, the licensee must provide proof that it has met the requirements set forth in this part and in a license order issued by the Office. [Doc. No. FAA–1999–6265, 65 FR 56699, Sept. 19, 2000; 65 FR 80991, Dec. 22, 2000]
Title 14: Aeronautics and Space
PART 450—FINANCIAL RESPONSIBILITY
Subpart A—Financial Responsibility for Licensed Reentry Activities
§ 450.15 Demonstration of compliance.
