Document: NRC Regulatory Guide
Document ID: 8ebf2253-f3d2-4bcd-ac80-7cbf6ab8d420
Document Type: regulatory_guide
Title: Assuring the Availability of Funds for Decommissioning Nuclear Reactors + HISTORY –HISTORY 02/2022 – DG-1348 Revision 1, Proposed Revision 3 06/2018 – DG-1348 , Proposed Revision 3 11/2016 – Periodic Review of Revision 2 – Reviewed with no issues identified 01/2011 – DG-1229 , Proposed Revision 2 05/2001 – DG-1106 , Proposed Revision 1 05/1989 – DG-1003 , Proposed Revision 0 (Rev. 1)
Source: NRC Regulatory Guide Division 1
Source URL: https://www.nrc.gov/docs/ML2134/ML21347A081.pdf
Revision Date: 2023-05
Chapter: 
Section ID: RG-1.159
CFR Part: 
CFR Title: 

Content:
a license pursuant to 10 CFR 50.80 or 10 CFR 52.105 into an account segregated from licensee assets and outside the administrative control of the licensee and its subsidiaries or affiliates of cash or liquid assets, such that the amount of funds would be sufficient to pay decommissioning costs at the time permanent termination of operations is expected. Prepayment may be in the form of a trust, escrow account, government fund, CD, deposit of government securities, or other payment acceptable to the NRC. shortfall—The difference between the amount of financial assurance provided by the licensee and the amount of financial assurance required, when the amount provided is less than the amount required. standby trust fund—A trust fund (see below) set up to receive funds from a surety, letter of credit, insurance, or guarantee when payment is made from them, to ensure that the funds remain available for decommissioning. surety bond—A guarantee that decommissioning costs will be paid, should the licensee default. The surety bond is a contract that the licensee or applicant (the principal) enters into with a qualified surety company (the surety) to assure the Commission or state regulatory agency that the licensee will fulfill its decommissioning obligations. In the event of the licensee’s default, the surety guarantees that decommissioning costs will be paid. trust fund—A three-party agreement whereby the licensee or applicant, called the grantor or trustor, transfers assets to a trustee, such as a bank, other financial institution, or governmental authority, to hold on behalf of the beneficiary (e.g., a state agency, or the NRC). The assets may be at least equal to the cost of decommissioning (prepayment) or may build up over time, such that the amount of funds should be sufficient to pay decommissioning costs (external sinking fund). DG-1348 Revision 1, Page 28 REFERENCES3 1. U.S. Code of Federal Regulations (CFR), “Domestic Licensing of Production and