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:
te or confirmed copy of the surety bond, signed by individuals authorized to act for the licensee and the surety company; (2) for letters of credit, an originally signed duplicate or confirmed copy of the letter of credit, signed by individuals authorized to act for the licensee and the financial institution; (3) for insurance, an original or copy of the insurance policy together with a certificate by insurers issuing the policy stating that the copy is a true copy of the currently effective policy issued to the licensee; and (4) a standby trust fund to receive funds if the surety, letter of credit, or insurance is drawn upon. 2.3.3 The following should be considered for financial institutions used as guarantors: (1) For surety bonds, the surety company must be listed by the U.S. Department of the Treasury in the most recent edition of Circular 570 and have a coverage limit sufficient to cover the cost estimates for which assurance is sought. Circular 570 is published annually about July 1 and is updated in the Federal Register. (2) For letters of credit, the issuing institution must be an entity that has the authority to issue a letter of credit, and whose letter of credit operations are regulated and examined by a federal or state agency. (3) For insurance, the insurance company must be licensed by state regulatory authorities to transact business as an insurer in one or more states. 2.4 Standby Trust 2.4.1 Under the decommissioning regulations, a licensee or applicant using a surety bond, letter of credit, or insurance must establish a “standby” trust fund to receive funds from the other financial instruments, if necessary. Under this arrangement, the beneficiary may draw on the funds held in the instruments listed and deposit them directly into the standby trust for use as required for DG-1348 Revision 1, Page 22 decommissioning. In addition to the instruments listed, applicants or licensees using parent company guarantees, certificates of deposit, or