South Carolina statutorily defines reclamation as, “...the reasonable rehabilitation of the affected land for useful purposes and the protection of the natural resources of the surrounding area.” Section 48-20-40 of the South Carolina statutes.
The United States Office of Surface Mining Reclamation and Enforcement is the governmental entity charged with mandating this surety bond requirement.
The type of work being done will determine the amount of surety bond required.
Qualifying will be by means of completion a short surety bond application and a credit inquiry.
The premium represents the price that you will pay for the bond’s issuance. The amount is typically about 1% of the amount of surety bond required; however, the type of work being done may affect the bond amount.
In the present instance this means that even the an amount of surety may be the same, the amount of premium could differ depending on the nature of the work being or to be performed.
The purpose of this surety bond requirement is to serve as a financial guarantee that you will be in compliance with all laws regarding reclamation.
To the extent applicable, the bond is a guarantee that you will also act according to the rules of the South Carolina Mining Act.
AmeriPro Surety Bonds is a surety bonds only agency. We provide license and permit surety bonds throughout South Carolina.
Our agency also provides surety bonds nationwide.
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