financial assurance

{
  "id": "MLC-T-ENV-011033",
  "term": "financial assurance",
  "field": "Environment",
  "definition": "1. A means (such as insurance, guarantee, surety bond, letter of credit, or qualification as a self-insurer) by the operator of a facility such as a landfill to assure financial capability for cleaning up possible environmental releases and closure of that facility.\n\n2. Under RCRA Subtitle C, the requirements designed to ensure that TSDF owners and operators will have the financial resources to pay for closure, post-closure, and liability costs. Under RCRA Subtitle D, the requirements designed to ensure that MSWLF owners and operators will have the financial resources to pay for closure, post-closure, and corrective action costs.",
  "subject": "Land, waste and cleanup",
  "references": [
    "Environmental Issues Terms & Acronyms",
    "Abandoned Mine Lands (AML) Glossary; RCRA Orientation Manual 2008 Glossary"
  ],
  "url": "https://mlchart.com/terminology/environment/financial-assurance/"
}