---
kind: "section"
citation: "30 C.F.R. § 553.31"
title: "30"
number: "553.31"
heading: "How can I use a surety bond as OSFR evidence?"
url: "https://uscodex.org/cfr/30/553.31"
---

# §553.31. How can I use a surety bond as OSFR evidence?

- (a) **Each bonding company that issues a surety bond that you submit to BOEM as OSFR evidence must—**
  - (1) Be licensed to do business in the State in which the surety bond is executed;
  - (2) Be certified by the U.S. Treasury Department as an acceptable surety for Federal obligations and listed in the current Treasury Circular No. 570;
  - (3) Provide the surety bond on Form BOEM-1020; and
  - (4) Be in compliance with applicable statutes regulating surety company participation in insurance-type risks.
- (b) A surety bond that you submit as OSFR evidence must include all the information required by [§ 553.41](/cfr/30/553.41.md).

## Notes

### Authority

Authority: 33 U.S.C. 2704, 2716; 2716a; E.O. 12777, as amended.

### Source

Source: 76 FR 64623, Oct. 18, 2011, unless otherwise noted.