(a) Each bonding company that issues a surety bond that you submit to BOEM as OSFR evidence must:   (1) Be licensed to do business in the State in which the surety bond is executed;   (2) Be certified by the U.S. Treasury Department as an acceptable surety for Federal obligations and listed in the current Treasury Circular No. 570;   (3) Provide the surety bond on Form BOEM-1020; and   (4) Be in compliance with applicable statutes regulating surety company participation in insurance-type risks.

(b) A surety bond that you submit as OSFR evidence must include all the information required by §553.41.