Washington Administrative Code › Title 173 - Ecology, Department of (See also Titles 197, 317, 372, and 508) › Chapter 173-360A - Underground storage tank regulations › Part 10 - FINANCIAL RESPONSIBILITY › Section 173-360A-1084 - Appendix E-Performance bond

Current through Register Vol. 24-14, July 15, 2024
Date bond executed:
Period of coverage:
Principal: [legal name and business address of owner or
				  operator]
Type of organization: [insert "individual," "joint venture,"
				  "partnership," or "corporation"]
State of incorporation (if applicable):
Surety(ies): [name(s) and business address(es)]
Scope of coverage: [List the number of tanks at each facility
				  and the name(s) and address(es) of the facility(ies) where the tanks are
				  located. If more than one instrument is used to assure different tanks at any
				  one facility, for each tank covered by this instrument, list the tank
				  identification number provided in the notification submitted pursuant to WAC
				  173-360A-0200, and the name and address of the facility. List the coverage
				  guaranteed by the bond: "Taking remedial action" and/or "compensating third
				  parties for bodily injury and property damage caused by" either "sudden
				  accidental releases" or "nonsudden accidental releases" or "accidental
				  releases" "arising from operating the underground storage tank"].
Penal sums of bond:
Per occurrence $
Annual aggregate $
Surety's bond number:
Know All Persons by These Presents, that we, the Principal
				  and Surety(ies), hereto are firmly bound to the Washington State Department of
				  Ecology, in the above penal sums 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 sums 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 such sums only as is set
				  forth opposite the name of such Surety, but if no limit of liability is
				  indicated, the limit of liability is the full amount of the penal sums.
Whereas said Principal is required under the Solid Waste
				  Disposal Act, as amended, and chapter 90.76 RCW to provide financial assurance
				  for [insert: "Taking remedial action" and/or "compensating third parties for
				  bodily injury and property damage caused by" either "sudden accidental
				  releases" or "nonsudden accidental releases" or "accidental releases"; if
				  coverage is different for different tanks or locations, indicate the type of
				  coverage applicable to each tank or location] arising from operating the
				  underground storage tanks identified above; and
Whereas said Principal must establish a standby trust fund as
				  is required when a surety bond is used to provide such financial
				  assurance;
Now, therefore, the conditions of the obligation are such
				  that if the Principal faithfully ["takes remedial action, in accordance with
				  WAC 173-360A-0750 and the Washington State Department of Ecology's instructions
				  for," and/or "compensates injured third parties for bodily injury and property
				  damage caused by" either "sudden accidental releases" or "nonsudden accidental
				  releases" or "accidental releases"] arising from operating the tank(s)
				  identified above, or if the Principal provides alternate financial assurance,
				  as specified in Part 10 of chapter 173-360A WAC, within 120 days after the date
				  the notice of cancellation is received by the Principal from the Surety(ies),
				  then this obligation is null and void; otherwise it is to remain in full force
				  and effect.
Such obligation does not apply to any of the
				  following:
(1) Any obligation of
				[insert owner or operator] under a workers' compensation, disability benefits,
				or unemployment compensation law or other similar law;
(2) Bodily injury to an employee of [insert
				owner or operator] arising from, and in the course of, employment by [insert
				owner or operator];
(3) Bodily
				injury or property damage arising from the ownership, maintenance, use, or
				entrustment to others of any aircraft, motor vehicle, or watercraft;
(4) Property damage to any property owned,
				rented, loaned to, in the care, custody, or control of, or occupied by [insert
				owner or operator] that is not the direct result of a release from an
				underground storage tank;
(5)
				Bodily injury or property damage for which [insert owner or operator] is
				obligated to pay damages by reason of the assumption of liability in a contract
				or agreement other than a contract or agreement entered into to meet the
				requirements of WAC 173-360A-1015.
The Surety(ies) become liable on this bond obligation only
				  when the Principal has failed to fulfill the conditions described above.
Upon notification by the Washington State Department of
				  Ecology that the Principal has failed to ["take remedial action, in accordance
				  with WAC 173-360A-0750 and the Department's instructions" and/or "compensate
				  injured third parties"] as guaranteed by this bond, the Surety(ies) must either
				  perform ["remedial action in accordance with WAC 173-360A-0750 and the
				  Department's instructions" and/or "third-party liability compensation"] or
				  place funds in an amount up to the annual aggregate penal sum into the standby
				  trust fund as directed by the Department under WAC 173-360A-1050.
Upon notification by the Department that the Principal has
				  failed to provide alternate financial assurance within 60 days after the date
				  the notice of cancellation is received by the Principal from the Surety(ies)
				  and that the Department has determined or suspects that a release has occurred,
				  the Surety(ies) must place funds in an amount not exceeding the annual
				  aggregate penal sum into the standby trust fund as directed by the Department
				  under WAC 173-360A-1050.
The Surety(ies) hereby waive(s) notification of amendments to
				  applicable laws, statutes, rules, and regulations and agrees that no such
				  amendment in any way alleviates its (their) obligation on this bond.
The liability of the Surety(ies) is not discharged by any
				  payment or succession of payments hereunder, unless and until such payment or
				  payments amount in the annual aggregate to the penal sum shown on the face of
				  the bond, but in no event do the obligation of the Surety(ies) hereunder exceed
				  the amount of said annual aggregate penal sum.
The Surety(ies) may cancel the bond by sending notice of
				  cancellation by certified mail to the principal, provided, however, that
				  cancellation must not occur during the 120 days beginning on the date of
				  receipt of the notice of cancellation by the principal, as evidenced by the
				  return receipt.
The Principal may terminate this bond by sending written
				  notice to the Surety(ies).
In witness thereof, the Principal and Surety(ies) have
				  executed this 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(ies) and that the wording of this surety bond is identical to the
				  wording specified in WAC 173-360A-1084 as such regulations were constituted on
				  the date this bond was executed.
Principal
[Signature(s)]
[Name(s)]
[Title(s)]
[Corporate seal]
Corporate Surety(ies)
[Name and address]
[State of incorporation:]
[Liability limit: $]
[Signature(s)]
[Name(s) and title(s)]
[Corporate seal]
[For every co-surety, provide signature(s), corporate seal,
				  and other information in the same manner as for surety above.]
Bond premium: $
Reviser's note:
The brackets and enclosed
					 material in the text of the above section occurred in the copy filed by the
					 agency and appear in the Register pursuant to the requirements of
					 RCW
					    34.08.040.