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Finnish investigators haven’t claimed whether they think the damage allegedly caused by the Chinese vessel was accomplished deliberately or no matter whether it had been attributable to incompetent seafaring, as suggested by some industry experts.
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Other commenters asserted that the proposed rule didn't incorporate enough data and transparency regarding how the probabilistic estimates are derived. Response:
1 commenter expressed issue the proposed rule specifies that an charm bond will “immediately” change into a economic assurance obligation must the lease operator reduce its enchantment and mentioned that bonds don't operate in this fashion. If finalized, the commenter asserted which the attractiveness bond should provide a specified variety of times for that lease operator to publish its financial assurance obligation to allow the surety to underwrite the operator at some time the bond is decided being justified.
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A number of commenters asserted that the value of decommissioning liability need to be extra back to the reserve price to stop double counting.
Commenters commonly supported the proposal to permit BOEM to withhold acceptance of any new transfer or assignment of any lease curiosity until eventually monetary assurance obligations are content. Reaction:
With regard to checking credit rating scores, BOEM stated inside the preamble to the proposed rule at 88 FR 42147 (and has recurring Within this closing rulemaking) that BOEM's general exercise will be to overview “the fiscal standing of lessees, ROW holders, and RUE holders at the very least on an yearly basis (the assessment ordinarily corresponding with the discharge of audited economic statements).” BOEM's fiscal assurance plan is meant to make certain that personal corporations possess the ability to meet their fiscal and non-financial obligations. BOEM seeks to stability the economical risk to The federal government as well as taxpayer With all the regulatory load on lessees and grantees. BOEM did not include supplemental regulatory textual content On this ultimate rule to address this remark mainly because it is needless; BOEM maintains the overall practice of evaluating lessees, RUE grant-holders, and pipeline ROW grant-holders for financial chance on a minimum of an once-a-year basis. The amended regulation wouldn't preclude a demand for supplemental money assurance in the Regional Director's regulatory authority at any time. As talked about in the proposed RIA, of the 276 firms analyzed, none ended up rated at or higher than BBB- at enough time of individual bankruptcy or inside ten years previous to bankruptcy.
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Commenters expressed concerns pertaining to BOEM's proposal to make use of a proxy credit history rating for entities without the need of an issuer credit score ranking.