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Storage Tank Financial Responsibility Transition to New Forms

Transition to New Form Parts
(Form Effective Date October 2019 - with revision made on February 7, 2020)

  • Acceptable financial instruments obtained (signed) prior to October 13, 2019, will continue to be acceptable through the stated period of coverage.
    • Documentation that has been determined to be acceptable, but on a second look is found to be deficient, needs to be replaced with new financial assurance instruments using the appropriate form part(s).
    • Instruments that are "evergreen" in nature (bonds, letters of credit, trust funds, standby trust funds (SBTFs), guarantees by a state) that were worded correctly at the time of issuance (and before January 2017) will continue to be acceptable.
    • When the list of facilities changes on an acceptable instrument, the existing instrument may be amended with documentation from the provider company (surety, bank, trustee, guarantor) acknowledging and accepting the changed list of facilities.
  • New instruments (e.g., renewed insurance policies and Self Insurance) must use the current DEP form parts (with form effective date October 2019) when signed after October 13, 2019.  If signed after March 1, 2020, instruments should use the current DEP form parts that replace the term "releases" with "discharges" (in, for example, a coverage drop-down box).
  • Insurance certificates and endorsements using Form 62-761.900(3) Parts C and D:
    • If an Insurance Company recreates the DEP form on their equipment, make sure it looks exactly like the DEP form!  Same header, same footer, same wording at the top of page 2, same length blanks/underscores, same line return words, etc. No exceptions!
    • Electronic signatures (for both insurer rep and witness) that follow requirements of ESIGN Act and UETA (and industry best practice standards) are acceptable.
    • The Date of Witness or Notary must be the same or after the issuance of the policy or a few days before its issuance.
    • The new form has a signature block check list for the Insurer to identify how the signatory's authority to amend the policy pursuant to Paragraph 1. is substantiated.
    • Insurance Check List (PDF) (inspired by ASTSWMO check list) is accessible at the end of the two insurance forms' web pages (Certificate and Endorsement) under 'Form Instructions'
  • The new Certification of Financial Responsibility (Part P - C.F.R.) form no longer requires a list of facilities [in line with 40 CFR 280.111(b)(11) requirements] as the accompanying instruments have a list of covered facilities. 
    • A new C.F.R. should be completed whenever there is any change to any financial instrument (facility/tank list, coverage period, coverage amount, etc.). 

Main Change to Rules 62-761.420 and 62-762.421, F.A.C.

  • Government agencies that use either a financial test (Parts A or J) or a fund (Part O) have 180 days, instead of 120 days, after the end of the fiscal year to prepare financial assurance documentation.

Links:

Storage Tank Financial Responsibility Main Page  *  Forms (Mechanisms)  *  Form Guidance (FAQs)  *  Rules and Related Laws  *  Storage Tank Program Contact List

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Last Modified:
September 28, 2020 - 2:54pm

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