Iowa Surface Mining Operations Bond
AmeriPro Surety Bonds | 844-589-9732
Surety Bond – Amount And Purpose
Iowa businesses which engage in surface mining operations, as a condition of licensing, are required by the state’s Department of Agriculture & Land Stewardship, Division of Soil Conservation to furnish evidence of financial responsibility.
This evidence is satisfied by the procurement of a performance surety bond. The amount of the surety required, according to current state regulations is:
- A minimum $10,000;
- OR, what the Division estimates its cost to be were they (that is, the Division) to perform the reclamation themselves.
Furthermore, the Division can either increase or decrease the amount of the bond required (please note, however, that when it comes to payment of your premium, premiums paid are earned in full; no refunds are offered), as new information becomes available.
The purpose of the surety bond requirement is to serve as a financial guarantee of your compliance with all rules of Iowa Coal Mining, Chapter 207, as amended.
Qualifying and the Premium
Obtaining the Iowa surface mining operations bond requires the completion of a short surety bond application.
Although it doesn’t affect the premium of your bond, we’ll need to know if your reclamation activities are for:
- Sand and gravel;
- Hard rock/minerals
Our application can begin the application with you by phone, but the application will require your signature.
Upon completing and returning your application (it is short), the application is reviewed by an underwriter.
To be approved both good and satisfactory credit are required; we will not be able to offer you terms otherwise.
Issuance of Your Surface Mining Operations Bond
After your surface mining operations bond is approved and the premium paid, it is issued to you immediately along with a Power of Attorney form.
We will notarize your bond as Surety; upon you receipt, you’ll sign your bond and then file it with the appropriate Department.
AmeriPro Surety Bonds is a surety bonds-only agency. We provide license and permit, court, probate, and other surety bonds in Iowa and all 50 states.
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Or, you may fill out the form below and a Surety Agent will contact you…