A new bill was presented in the State of Colorado concerning waste tire facility operators. The new bill, which is named HB 1018, requires waste tire facility operators to register and satisfy financial assurance necessities for the recovery of the site and guarantee of full payment of all closure and post closure expenses; this includes any expenses for corrective actions. Surety bonds along with alternative financial instruments would be authorized to fulfill this requirement. The Hazardous Waste Commission would establish the quantity of the surety bond being called for.
Eric is the Chief Marketing Officer of JW Surety Bonds. With years of experience in the surety industry, he is also a contributing author to the surety bond blog.