Bond Pool Frequently Asked Questions

Can I get a bond through the Bond Pool to satisfy the US Forest Service bond requirements?

No. At this time, the Nevada Reclamation Performance Bond Pool is unable to execute bonds for projects regulated by the US Forest Service.

Can I transfer my bond to another company?

Yes.  First, a change of operator for the project must be approved by the regulatory agency (BLM and/or NDEP).  A copy of the approving document must be submitted to the Division along with a signed letter from the former operator requesting the bond be transferred as an asset in the name of the successor operator referencing the bond amount.  Upon receipt of these two documents plus signed and notarized original bond documents (Reclamation Bond and Indemnity Agreement), the Division will transfer the bond and inform the regulatory agency.

Can I apply a bond refund to the establishment of a new bond?

No.  Each bond is tied to a specific project, enumerated by the NVN number for BLM and Reclamation Permit number for NDEP.

Can I make a payment by credit card?

No.  At this time, the only acceptable forms of payment are check, cashier’s check, bank draft or money order.

Can I make a payment by electronic transfer?

Electronic payment via Fedwire or ACH must be requested and justified by the Division and pre-approved by the State Treasurer’s Office which may require additional review time.  Requests are generally approved only for one-time transactions where a delay in payment results in late fees or termination.

The obligation amount has been reduced by the regulatory agency for my project, how do I get my refund?

To expedite the refund process, provide the Division with a copy or scan of the regulatory Decision Letter indicating the reduction.  The refund amount will consist of the appropriate bond reduction amount plus any unneeded bond premium needed in the current bond period, based on the date of the Decision Letter.  In order to process the refund payment, the name on the bond must be registered with the State Controller's office as a vendor; please use the following link - http://controller.nv.gov/Buttons/ElectronicVendorReg/

Can the refund be paid to another entity (e.g. parent company)?

Yes, however the Division will need a signed letter requesting payment to the other entity and an explanation or documentation of the relationship with the other entity AND the other entity will have to be registered as a vendor with the State Controller’s Office.

Can I exit the bond pool and transfer my bonds to the BLM for the establishment of one statewide bond with them?

Yes.  The transfer is coordinated with the BLM State Office in Reno and can be initiated by sending the Division a signed letter requesting the transfer of the bond deposit amount.  The appropriate portion of the premium can be included in the transfer amount to the BLM or it can be refunded to the participant.