Financial Responsibility – Acceptable Documents

The following is an unofficial listing of acceptable documents for proving financial responsibility on a UST Permit Application. This list is provided for convenience.

Please refer to the official rules for the most accurate and up to date information.

  • Financial Test of Self-insurance: HAR 11-280.1-95
    • Letter from Chief Financial Officer (CFO): HAR 11-280.1-95(c)(4)
    • Report Certified by an Independent CPA: HAR 11-280.1-95(b)(4)(A)
    • If financial statements are not submitted annually to the U.S. Securities and
    • Exchange Commission, the Energy Information Administration OR the Rural Utilities Service
    • Certification of Financial Responsibility: HAR 11-280.1-111(b)(10)
  • Guarantee: HAR 11-280.1-96
    • Letter from Chief Financial Officer (CFO): HAR 11-280.1-95(d)
    • Guarantee correctly worded and current: HAR 11-280.1-96(c)
    • Certification of Financial Responsibility: HAR 11-280.1-111(b)(10)
    • A standby trust fund: HAR 11-280.1-96(d)
  • Insurance and Risk Retention Group Coverage: HAR 11-280.1-97
    • Endorsement OR Insurance Certificate: HAR 11-280.1-97(b)(1) or HAR 11-280.1-97(b)(2)
    • Insurance Policy: HAR 11-280.1-97(a); policy must not include the following exclusions:
    • Voluntary tank removal and voluntary tank site investigation
    • Self-insured retention
    • Certification of Financial Responsibility: HAR 11-280.1-111(b)(10)
  • Surety Bond: HAR 11-280.1-98
    • Surety Bond (Performance Bond): HAR 11-280.1-98(b)
    • A standby trust fund: HAR 11-280.1-98(d)
    • Certification of Financial Responsibility: HAR 11-280.1-111(b)(10)
  • Trust Fund: HAR 11-280.1-102
    • Trust agreement, accompanied by a formal certification of acknowledgment: HAR 11-280.1-103(b)(2) and HAR 11-280.1-102(b)
    • Trust Fund: HAR 11-280.1-102(c)
    • Certification of Financial Responsibility: HAR 11-280.1-111(b)(10)
  • Standby Trust Fund (applicable to mechanisms 96, 98, 99): HAR 11-280.1-103
    • Standby trust agreement or trust agreement, accompanied by a formal certification of acknowledgment: HAR 11-280.1-103(b)(2) and HAR 11-280.1-102(b)
    • Certification of Financial Responsibility: HAR 11-280.1-111(b)(10)
  • Local Government Bond Rating Test
    • Moody’s rating of Aaa, Aa, A or Baa, or a Standard & Poor’s rating of AAA, AA, A or BBB as the lowest rating for any rated revenue bond that is issued by the local government: HAR 11-280.1-104(a) or (b)
    • Copy of bond rating published within the last 12 months by Moody’s or Standard & Poor’s: HAR 11-280.1-104(c)
    • Letter from the CFO: HAR 11-280.1-104(d) or (e)
    • Certification of Financial Responsibility: HAR 11-280.1-111(b)(10)
  • Other: Surety Bond, Letter of Credit, Trust Fund, Standby Trust Fund, Local Government Financial Test, Local Government Guarantee or Local Government Fund