30 C.F.R. § 243.100 What standards must my MMS-specified surety instrument meet?
Title 30 - Mineral Resources
(a) An MMS-specified surety instrument must be in a form specified in MMS instructions. MMS will give you written information and standard forms for MMS-specified surety instrument requirements. (b) MMS will use a bank-rating service to determine whether a financial institution has an acceptable rating to provide a surety instrument adequate to indemnify the lessor from loss or damage. (1) Administrative appeal bonds must be issued by a qualified surety company which the Department of the Treasury has approved. (2) Irrevocable letters of credit or certificates of deposit must be from a financial institution acceptable to MMS with a minimum 1-year period of coverage subject to automatic renewal up to 5 years.
Title 30: Mineral Resources
PART 243—SUSPENSIONS PENDING APPEAL AND BONDING—MINERALS REVENUE MANAGEMENT
Subpart B—Bonding Requirements
§ 243.100 What standards must my MMS-specified surety instrument meet?
