{"data":{"id":"us/30-cfr-550.1490","jurisdiction":"us","citation":"30 CFR 550.1490","heading":"What standards must my BOEM-specified surety instrument meet?","body":"(a) A BOEM-specified surety instrument must be in a form specified in BOEM instructions. BOEM will give you written information and standard forms for BOEM-specified surety instrument requirements.\n(b) BOEM will use a bank-rating service to determine whether a financial institution has an acceptable rating to provide a surety instrument adequate to indemnify the lessor from loss or damage.\n(1) Administrative appeal bonds must be issued by a qualified surety company which the Department of the Treasury has approved.\n(2) Irrevocable letters of credit or certificates of deposit must be from a financial institution acceptable to BOEM with a minimum 1-year period of coverage subject to automatic renewal up to 5 years.","path":["Title 30—Mineral Resources","CHAPTER V—BUREAU OF OCEAN ENERGY MANAGEMENT, DEPARTMENT OF THE INTERIOR","SUBCHAPTER B—OFFSHORE","PART 550—OIL AND GAS AND SULFUR OPERATIONS IN THE OUTER CONTINENTAL SHELF","Subpart N—Outer Continental Shelf Civil Penalties"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-30.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:25:24Z","sha256":"5bf125fd5d7f13c836aef0da6c5954517bf7d2717801b8f401b116d38fc5c2b4","source_id":"us-cfr","stale":true,"prev":"us/30-cfr-550.1480","next":"us/30-cfr-550.1491"},"notice":"GroundRules: Original legal text. Not legal advice."}