Storage Tank Irrevocable Standby Letter of Credit

Form 62-761.900(3) Part F

Other Forms Needed, Examples, Links

• Form Part P (Certification of Financial Responsibility)
  • Period of Coverage: will be from 'effective as of' date (from Part F page 2) to "evergreen".
• Form Part H (Standby Trust Fund) 
• Example of Facility/Tank Schedule
• Links to Outside Agencies - for verifications (Sunbiz, FDIC)

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.

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.
• Unsigned drafts of the letter of credit should be reviewed by DEP staff in Tallahassee before signing (to prevent changes to the required wording).
• 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.

Return to Storage Tank Financial Assurance Forms (Mechanisms) webpage