The Missouri Hazardous Waste Management Law requires owners and operators of hazardous waste treatment, storage and disposal facilities to meet certain financial assurance and third party liability requirements. This ensures they will have enough funds set aside to close their facility, monitor during any required post-closure period, cleanup any hazardous wastes releases and compensate third parties for bodily injury or property damage resulting from those hazardous waste releases. These funds must be available until all closure, post-closure care and corrective action activities are complete and the department notifies the facility owner or operator that financial assurance is no longer required.
Financial assurance instruments (FAIs) are the actual mechanisms used to demonstrate the facility meets the financial assurance requirements. FAIs include securities such as insurance certificates, surety bonds, letters of credit, secured trust funds, etc. The department is providing the instrument templates below as sample language for the required financial assurance. Every attempt is made to ensure the sample language is accurate and up-to-date. However, the department cannot guarantee the language is accurate in terms of the current state and federal regulations. Please review Code of State Regulations 10 CSR 25-7.264(1) and (2) and Code of Federal Regulations 40 C.F.R. § 264.151(a) through (n) to gain a clear understanding of the financial assurance requirements. Printed copies of the state and federal regulations can be viewed at any of the departments' regional offices, the Missouri State Library, the U.S. Depository Libraries and most public libraries.