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Get the free BP Bond New York Instruments FORM 09.20.2011 - dfs ny

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BOND NEW YORK INSTRUMENT Dated: Between: Principal (Licensed Budget Planner) and Surety Bond No. KNOW ALL PERSONS BY THESE PRESENTS that located at as Principal and located at as Surety, are firmly
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BP Bond New York is a financial assurance mechanism required by the New York State Department of Environmental Conservation (DEC) to ensure that operators of underground petroleum storage tanks comply with environmental regulations and have sufficient funds to address any leaks or spills that may occur.
All operators of underground petroleum storage tanks in New York State are required to file BP Bond New York. This includes both public and private facilities, such as gas stations, airports, and industrial sites, that store petroleum products.
To fill out BP Bond New York, operators must complete the application form provided by the New York State DEC. The application requires information about the operator's facility, the number and capacity of their underground storage tanks, as well as financial information to determine the appropriate bonding amount.
The purpose of BP Bond New York is to ensure that operators of underground petroleum storage tanks have the financial resources to clean up any leaks or spills that may occur and to comply with environmental regulations. The bond provides a guarantee that funds will be available for these purposes, protecting the environment and public health.
Operators must report information about their facility, including the number and capacity of underground storage tanks, the types of petroleum products stored, and the facility's financial information. This information is used to determine the appropriate bonding amount and assess the operator's ability to address potential leaks or spills.
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