---
kind: "section"
citation: "30 C.F.R. § 585.516"
title: "30"
number: "585.516"
heading: "What are the financial assurance requirements for each stage of my commercial lease?"
url: "https://uscodex.org/cfr/30/585.516"
---

# §585.516. What are the financial assurance requirements for each stage of my commercial lease?

- (a) **The financial assurance requirements for each stage of your commercial lease are—**
- (b) Each bond or other authorized financial assurance must guarantee compliance with this part, the applicable plan approvals, and the terms and conditions of the lease.
- (c) For hydrokinetic commercial leases, supplemental financial assurance may be required in an amount determined by BOEM prior to installation of facilities pursuant to a FERC license.

## Notes

### Source

Source: 89 FR 42740, May 15, 2024, unless otherwise noted.

### Authority

Authority: 43 U.S.C. 1337.

### Source

Source: 88 FR 6430, Jan. 31, 2023, unless otherwise noted.