Bond Pool FAQs

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

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.

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

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

Electronic payment via ACH or wire is an acceptable method of payment. If you require the State’s banking information to initiate an electronic payment, please send an email bondpool@minerals.nv.gov requesting this information. When initiating an electronic payment, send a notification to the bond pool email address notifying that a payment has been made; the Division is required to claim electronic payments from a broader pool and this information expedites the process.

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 - https://controller.nv.gov/VendorDB/VendorRegistrationReq/

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.

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.