South Carolina Reclamation Bond |
AmeriPro Surety Bonds | 844-589-9732
Reclamation – South Carolina
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.
Amount of Surety Bond Required and Qualifying
The type of work being done will determine the amount of surety bond required.
- For a certificate of exploration, a $2500 surety bond is required;
- For a reclamation of less than 10 acres, a $10,000 surety bond is required;
- If the area being reclaimed is more than 10 acres, but less than 15 acres, a $15,000 surety bond is required;
- If the area being reclaimed is more than 15 acres, a $25,000 surety bond is required;
- Finally, if the area being reclaimed is greater than 25 acres, the Department will inform you how much surety bond is required.
Qualifying will be by means of completion a short surety bond application and a credit inquiry.
Estimated Premium Amount
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.
Purpose of this Surety Bond
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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