Surety Bonds for Pharmaceutical Industry

As per the waste industry, the same rules and obligations of the Environmental Protection Agency’s (“EPA”) apply to the Pharmaceutical industry.

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This guidance applies to EPA licensees whose licences require financial provision to be put in place. The EPA has identified the prevention and remediation of environmental damage and pollution from incidents and closure of licensed facilities as one of its strategic priorities. Ensuring that there is adequate financial provision in place to manage these environmental risks is essential to ensure that the people of Ireland are protected from the consequences of environmental damage. Adequate financial provision for environmental liabilities is important to protect the environment and also to minimise the exposure of the State to the cost of remediating environmental damage and pollution when persons carrying out licenced activities fail to do so.

In order to be granted a license, financial provisions are required to cover environmental liabilities that may occur during the operating life of a licensed facility or that may arise from or following the closure of a licensed facility.

The financial provision must be:

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Secure: 

The financial provision must be secure for the duration of the licensee’s obligations (including in the event of an insolvency) under a licence so that funds are available to discharge the licensee’s obligations.

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Sufficient:

The financial provision must be sufficient to meet all of the licensee’s obligations and must be adequate to cover the cost of closure and environmental liability risks.

Available when required: 

The funds must be available to the EPA when required to discharge the licensee’s obligations at the relevant time.

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Our team at Surety Bonds understand the specialist requirements that the EPA apply to safe and compliant collection and disposal of pharmaceutical waste and the financial provisions that must be in place should an environmental incidence occur during the period of the license to a pharmaceutical licensed facility. 

Surety Bonds for EPA & Waste Industries

• EPA Approved On-Demand Bonds

If you require an EPA approved Bond but are daunted by the process and legislation, let Surety Bonds put your mind at ease and secure the correct Bond for your obligations on your behalf. Contact us today, to discuss your requirements.