What forms of surety are acceptable to the Division?
The Division accepts a variety of different forms of surety and you may choose the form that is most appropriate for your situation as long as it meets the regulatory requirements. Forms acceptable to the Division include, corporate surety bonds from a surety company licensed to do business in Utah, federally insured certificates of deposit, cash, Irrevocable letters of credit, escrow accounts and in some cases the Board may accept written self-bonding agreements. Ultimately, the form and the amount of the surety must be approved by the Division, so it is important that you work closely with us to make sure you have the appropriate surety in place before commencing to mine.
