Virginia Administrative Code › Title 9 - ENVIRONMENT › Agency 20 - VIRGINIA WASTE MANAGEMENT BOARD › Chapter 170 - TRANSPORTATION OF SOLID AND MEDICAL WASTES ON STATE WATERS › Part VI - Financial Responsibility Requirements for Vessels Transporting Solid Wastes or Regulated Medical Wastes › Section 9VAC20-170-400:2 - APPENDIX II

Current through Register Vol. 40, No. 24, July 15, 2024
(NOTE: instructions in brackets are to be replaced with
					 the relevant information and the brackets deleted.)
SURETY BOND GUARANTEEING PAYMENT
Date bond executed:..........
Principal: [legal name and business address]
Type of organization: [insert "individual," "joint
					 venture," "partnership," or "corporation"]
State of incorporation:..........
Surety: [name and business address]
Vessels covered by this bond (see attached Schedule
					 A):..........
Penal sum of bond: $.....
Surety's bond number:..........
Know all men by these present, That we, the Principal and
					 Surety hereto are firmly bound to the Department of Environmental Quality,
					 Commonwealth of Virginia, (hereinafter called the Department) in the above
					 penal sum for the payment of which we bind ourselves, our heirs, executors,
					 administrators, successors and assigns, jointly and severally; provided that,
					 where the Surety[ies] are corporations acting as co-sureties, we, the Sureties,
					 bind ourselves in such sum "jointly and severally" only for the purpose of
					 allowing a joint action or actions against any or all of us, and for all other
					 purposes each Surety binds itself, jointly and severally with the Principal,
					 for the payment of each sum only as is set forth opposite the name of such
					 Surety, but if no limit of liability is indicated, the limit of liability shall
					 be the full amount of the penal sum.
Whereas, said Principal is required to have a registration
					 number issued by the Department of Environmental Quality, Commonwealth of
					 Virginia, in order to transport solid or regulated medical waste upon the
					 navigable waters of the Commonwealth, and
Whereas, said Principal is required to provide financial
					 assurance for the cleanup and containment of a waste deposit from a vessel
					 transporting solid and/or regulated medical waste upon the navigable waters of
					 the Commonwealth and for the costs of restoring any beneficial uses impaired as
					 a result of such a waste deposit as a condition of operation pursuant to
					 9VAC20-170,
Whereas, said Principal shall establish a standby trust
					 fund as is required when a surety bond is used to provide such financial
					 assurance,
Now, therefore the conditions of this obligation are such
					 that if the Principal shall faithfully pay or cause to be paid any sum or sums
					 for which the Principal is obligated to pay to clean up or contain a waste
					 deposit from a covered vessel pursuant to 9VAC20-170 or restore any beneficial
					 uses impaired from such a deposit, then this obligation, to the extent of such
					 payment, shall be void, otherwise to remain in full force and effect.
Or, if the Principal shall provide alternate financial
					 assurance as specified in the Department's regulations and obtain the
					 director's written approval of such assurance, within 60 days of the date
					 notice of cancellation is received by the Director of the Department of
					 Environmental Quality from the Surety, then this obligation will be null and
					 void, otherwise it is to remain in full force and effect for the life of the
					 vessel identified above.
The Surety shall become liable on this bond obligation
					 only when the Principal has failed to fulfill the conditions described above.
					 Upon notification by the Director of the Department of Environmental Quality,
					 Commonwealth of Virginia, that the Principal has been found in violation of the
					 requirements of the Department's regulations, the Surety must forfeit the penal
					 sum of the bond and deposit the entire amount of the bond into the standby
					 trust established for this purpose.
The Surety hereby waives notification of amendments to any
					 plans, orders, applicable laws, statutes, rules, and regulations and agrees
					 that such amendments shall in no way alleviate its obligation on this
					 bond.
The liability of the Surety 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 hereunder exceed the amount of said
					 penal sum.
The Surety may cancel the bond by sending written notice
					 of cancellation to the owner or operator and to the Department of Environmental
					 Quality, Commonwealth of Virginia, provided, however, that cancellation cannot
					 occur during the 120 days beginning on the date of receipt of the notice of
					 cancellation by the department as shown on the signed return receipt.
The Principal may terminate this bond by sending written
					 notice to the Surety, provided, however, that no such notice shall become
					 effective until the Surety receives written authorization for termination of
					 the bond by the Director of the Department of Environmental Quality,
					 Commonwealth of Virginia.
In witness whereof, the Principal and Surety have executed
					 this Surety 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 behalf of the Principal
					 and Surety and that the wording of this surety bond is identical to the wording
					 specified in the relevant regulations of the Commonwealth of Virginia,
					 Department of Environmental Quality.
Principal
Signature(s):..........
Name(s) and Title(s) [typed]..........
Corporate Surety
Name and Address:..........
State of Incorporation:..........
Liability Limit: $.....
Signature(s):..........
Name(s) and Title(s) [typed]..........
Corporate Seal:
SCHEDULE A
IDENTIFICATION OF COVERED VESSELS
Surety Bond [insert bond number] is applicable to the
					 following vessels:
Vessel Name Gross tons Owner Operator
Statutory Authority
§§ 10.1-1402 and 10.1-1454.1 of the Code of
						Virginia.