Indiana Administrative Code › Title 329 - SOLID WASTE MANAGEMENT DIVISION › Article 3.1 - HAZARDOUS WASTE MANAGEMENT PERMIT PROGRAM AND RELATED HAZARDOUS WASTE MANAGEMENT › Rule 14 - Financial Requirements for Owners and Operators of Interim Status Hazardous Waste Treatment, Storage, and Disposal Facilities › Section 14-37 - Wording of instrument; letter-of-credit for liability coverage

Current through July 10, 2024
Authority: IC 13-14-8; IC 13-22-2-4
Affected: IC 13-22-2;
				  40 CFR
				  264.151(k)
Sec. 37.
A letter-of-credit, as required in section 24(h) of this rule
				  or
				  329 IAC 3.1-15-8(g)
				   (see
				  329 IAC 3.1-15-10(k)
				   ), must be worded as follows except that the
				  instructions in brackets are to be replaced with the relevant information and
				  the brackets deleted:
Irrevocable Standby Letter-of-Credit
Name and Address of Issuing
				  Institution____________________________
Commissioner
Indiana Department of Environmental Management
Dear Sir or Madam: We hereby establish our irrevocable
				  standby letter-of-credit no. ________ in the favor of ["any and all third party
				  liability claimants" or insert name of trustee of the standby trust fund], at
				  the request and for the account of [owner or operator's name and address] for
				  third party liability awards or settlements up to [in words] U.S. dollars $
				  ________ per occurrence and the annual aggregate amount of [in words] U.S.
				  dollars $ ________ for sudden accidental occurrences, for third party liability
				  awards or settlements, or for sudden accidental occurrences and third party
				  liability awards or settlements up to the amount of [in words] U.S. dollars $
				  ________ per occurrence and the annual aggregate amount of [in words] U.S.
				  dollars $ ________ for nonsudden accidental occurrences available upon
				  presentation of a sight draft bearing reference to this letter-of-credit no.
				  ________ and [insert either of the following, 1. or 2., if the letter-of-credit
				  is being used without a standby trust fund]:
1. A signed certification reading as follows:
Certification of Valid Claim
The undersigned, as parties [insert principal] and [insert
				  name and address of third party claimant or claimants], hereby certify that the
				  claim of bodily injury, property damage, or bodily injury and property damage
				  caused by a ["sudden" or "nonsudden"] accidental occurrence arising from
				  operations of [principal's] hazardous waste treatment, storage, or disposal
				  facility must be paid in the amount of [in words] U.S. dollars $ ________ . We
				  hereby certify that the claim does not apply to any of the following:
(a) Bodily injury or property damage for
				which [insert principal] is obligated to pay damages by reason of the
				assumption of liability in a contract or agreement. This exclusion does not
				apply to liability for damages that [insert principal] would be obligated to
				pay in the absence of the contract or agreement.
(b) Any obligation of [insert principal]
				under workers' compensation, disability benefits, unemployment compensation
				law, or any similar law.
(c) Bodily
				injury to:
(i) an employee of [insert
				principal] arising from and in the course of employment by [insert principal];
				or
(ii) the spouse, child, parent,
				brother, or sister of that employee as a consequence of, or arising from, and
				in the course of employment by [insert principal].
This exclusion applies whether [insert principal] may be
				  liable as an employer or in any other capacity and applies to any obligation to
				  share damages with or repay another person who shall pay damages because of the
				  injury to persons identified in this paragraph.
(d) Bodily injury or property damage arising
				out of the ownership, maintenance, use, or entrustment to others of any
				aircraft, motor vehicle, or watercraft.
(e) Property damage to any of the following:
(i) Any property owned, rented, or occupied
				by [insert principal].
(ii)
				Premises that are sold, given away, or abandoned by [insert principal] if the
				property damage arises out of any part of those premises.
(iii) Property loaned to [insert
				principal].
(iv) Personal property
				in the care, custody, or control of [insert principal].
(v) That particular part of real property on
				which [insert principal] or any contractors or subcontractors working directly
				or indirectly on behalf of [insert principal] are performing operations if the
				property damage arises out of these operations.
[Signature]
Grantor____________________________________
[Signature or signatures]
Claimant or
				  Claimants__________________________________.