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Storage Tank Irrevocable Standby Letter of Credit

Form 62-761.900(3) Part F

Other Forms Needed

  • Certification of Fanancial Responsibility (Form Part P) (C.F.R.)
    • Period of Coverage is original issuance date to current expiration date. 
      • As nearly all letters of credit (LCs) are annual in nature, each year a new C.F.R. will be required.  The new C.F.R. will keep the original issuance date and add a year (or 365 days, per the LC) for the new (extended) expiration date.  (A bank may extend the life of a letter of credit without issuing an amendment (as this 'automatic extension' is written into the credit), but sometimes does.) 
  • Standby Trust Fund (Form Part H) must also be established when using a Letter of Credit

General Guidance

  • Calculate FR needs, Reference Manuals, EPA link and FAQs
  • DEP Forms must be used and filled out completely.
  • Verify current version of form part is used  ("October 2019" version if signed after 10/13/2019)
  • Verify Institution can complete form
  • Verify facility and tanks at site have coverage.  The following should match the state registration:
    • Facility identification number (FacID) (for facilities in Florida)
    • Facility name
    • Site address
    • Number of regulated tanks (or list of tank identification numbers)

Letter of Credit Specific Guidance

  • Name of Issuing Institution identified in the Letter of Credit must be the legal name of bank as identified by FDIC or other regulating agency.
  • The wording that follows "This credit is subject to" may be more specific than either option offered, but may not include both options.
  • Letters of Credit (LCs) are 'evergreen' in nature.  The original document will have an issue date and an expiration date (typically) one year later, with an automatic renewal condition.
  • As most banks do not issue amendments showing the extended expiration, the bank could be contacted to confirm the LC was extended. 
  • An amendment will be required if any of the coverage changes. 
    • Make sure any LC attachment that identifies sites not among those originally covered by the LC was changed in a manner acceptable to the issuing institution.  (See FAQ #18.)

Banks Using Security Paper

  • Although Rules 62-761.420 and 62-762.421, F.A.C., require the use of DEP Form 62-761.900(3) Part F for new instruments, the exact wording of DEP Form 62-761.900(3) Part F may substitute (removing header, footers and bracketed guidance) only when using security paper.
  • Follow the Letter of Credit Specific Guidance above to complete document.
  • Unsigned drafts of the letter of credit should be reviewed by DEP staff in Tallahassee before signing (to prevent changes to the required wording).
    • A copy of the Department’s ‘courtesy review’ e-mail may demonstrate to site inspectors that a draft has been reviewed.
  • Note: Form Part F can be photo-reduced to fit on a bank’s letterhead stationery.

What to Do with Completed Forms

  • An owner or operator must maintain financial responsibility records (the completed form parts with required supporting documentation) at the facility or at their business office.
  • If not kept at the facility, they shall be made available at the facility or another agreed upon location upon five business days notice by a department or county inspector.


  • Sunbiz – verify owner/operator’s legal name (including punctuation and abbreviations)
  • FDIC website – verify most bank names

Return to Storage Tank Financial Assurance Forms (Mechanisms) webpage

Form Number: 
62-761.900(3) Part F
Effective-Revision Date: 
Friday, February 7, 2020
Last Modified:
January 26, 2021 - 4:54pm

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