CFR > Title 30 - Mineral Resources > CHAPTER II—MINERALS MANAGEMENT SERVICE, DEPARTMENT OF THE INTERIOR > SUBCHAPTER B—OFFSHORE (parts 250 to 285) > PART 285—RENEWABLE ENERGY ALTERNATE USES OF EXISTING FACILITIES ON THE OUTER CONTINENTAL SHELF > SUBPART E—Payments and Financial Assurance Requirements (§285.500 to §285.543) > 285.516—What are the financial assurance requirements for each stage of my commercial lease?

285.516—What are the financial assurance requirements for each stage of my commercial lease?

(a) The basic financial assurance requirements for each stage of your commercial lease are as follows:

Code of Federal Regulations

Code of Federal Regulations 454
[Please see PDF for image: ER29AP09.111 ]
(b) Each bond or other financial assurance must guarantee compliance with all terms and conditions of the lease. You may provide a new bond or increase the amount of your existing bond, to satisfy any additional financial assurance requirements.
(c) For hydrokinetic commercial leases, supplemental financial assurance may be required in an amount determined by MMS before FERC issues a license.