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:
effect. The Surety(ies) shall become liable on this bond obligation only when the Principal has failed to fulfill the conditions described above. Upon notification by the [insert “NRC” or the name of the state agency] that the Principal has failed to perform as guaranteed by this bond, the Surety(ies) shall place funds in the amount guaranteed for the facility(ies) into the standby trust fund. The liability of the Surety(ies) shall not be discharged by any payment or succession of payments hereunder, unless and until such payment or payments shall amount in the aggregate to the penal sum of the bond, but in no event shall the obligation of the Surety(ies) hereunder exceed the amount of said penal sum. The Surety(ies) may cancel the bond by sending notice of cancellation by certified mail to the Principal and to the [insert “NRC” or the name of the state agency] provided, however, that cancellation shall not occur during the 90 days, beginning on the date of receipt of the notice of cancellation by both the Principal and the [insert “NRC” or the name of the state agency], as evidenced by the return receipts. The Principal may terminate this bond by sending written notice to the [insert “NRC” or name of state agency] and to Surety(ies) 90 days prior to the proposed date of termination, provided, however, that no such notice shall become effective until the Surety(ies) receive(s) written authorization for termination of the bond from the [insert “NRC” or the name of the state agency]. The Principal and Surety(ies) hereby agree to adjust the penal sum of the bond yearly so that it guarantees a new amount, provided that the penal sum does not increase by more than 20 percent in any one year. In Witness Whereof, the Principal and Surety(ies) have executed this financial guarantee bond and have affixed their seals on the date set forth above. The persons whose signatures appear below hereby certify that they are authorized to execute this surety bond on