Specifications include, but are not limited to: 1. Review of the following financial assurance instruments for sufficiency and validity for an initial conversion permit application: Fully Funded Trust Fund, Letter of Credit, Insurance Policy, Surety Bond, a combination of these instruments, any other instrument approved by the Secretary of DNREC on a per-case basis; 2. Review of the aforementioned financial assurance instruments on an annual basis to ensure full coverage of the estimated Coastal Zone Financial Assurance Amount; 3. Review of the aforementioned financial assurance instruments in the event of a major modification to a conversion permit, such as a change in site ownership or control; 4. Review of capital cost estimates for implementation of Sea Level Rise and Coastal Storms Plans and Environmental Remediation and Stabilization Plans; 5. Review of financial assurance instruments for existing remedial activities on any given conversion permit site.
