• EPA Updates Financial Assurance Requirements for CERCLA Settlements and UAO
  • June 24, 2015 | Author: Sudhir Lay Burgaard
  • Law Firm: Morris Polich & Purdy LLP - Los Angeles Office
  • On April 6, 2015, the U.S. Environmental Protection Agency (EPA) issued a Guidance on Financial Assurance (the FA guidance) in Superfund Settlements and Orders to instruct regional and enforcement personnel on how to adapt financial assurance (FA) requirements to specific Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) consent decrees (CDs), administrative orders on consent (AOCs), and unilateral administrative orders (UAOs). The FA guidance, a comprehensive document issued by the EPA’s Office of Site Remediation Enforcement, assists its regional offices with FA issues and requirements at sites subject to enforcement actions under CERCLA. The guidance contains model language and sample documents that address FA requirements in cleanup settlement agreements.