4437 Assignment of Certificate of Deposit

U.S. Department of the Interior
Office of Natural Resources Revenue

OMB Control Number 1012-0006
OMB Approval Expires

ASSIGNMENT OF CERTIFICATE OF DEPOSIT
Form ONRR-4437
Whereas, on the _____ day of __________, ____, _________________, of _________________
Month

Year

Company Name

Address

____________________________ executed certain certificate(s) of deposit described as follows:
CD Number ________________ in the amount of $__________________
Bank Name_______________________, ABA number _______________
to secure the appealed amounts of principal and/or interest due the United States, Office of
Natural Resources Revenue (ONRR). Certificate(s) of Deposit will be redeemed by ONRR in the
event that ________________, is unsuccessful in its appeal of Docket No. ______________,
Company Name

appeal amount of $______________ plus interest, and has for a period of more than 15 days
Bill Amount

neglected, failed, or refused to pay such amount although requested to do so by ONRR of the
Department of the Interior.
To satisfy the requirements of 30 CFR 1243.4, the undersigned, _________________ as
Company Name

obligator, hereby pledges the Certificate(s) of Deposit as described above, to “the Director of the
United States Office of Natural Resources Revenue.”
The condition of the above assignment is such that the Certificate:
(a) shall be pledged to the Director of the United States Office of Natural Resources Revenue in
writing and upon the books of the institution issuing such certificates;
(b) shall be issued from a bank that has a minimum Fitch rating or is confirmed by a bank with
an acceptable rating. Acceptable ratings are: “C” for less than 1 million dollars ($1 million);
“B/C” for between 1 and 10 million dollars ($1 million to $10 million); and “B” for over 10
million dollars ($10 million);
(c) shall be conditioned upon the issuing institution waiving all rights of setoff or liens which it
has or may have against those certificates;
(d) shall be of sufficient amount so that liquidation of those certificates prior to maturity would
provide the required surety amount;
(e) shall remain in full force and effect until the assignment is released in writing by the Director
of the United States Office of Natural Resources Revenue;
Form ONRR-4437 (revised 10/2011)

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U.S. Department of the Interior

OMB Control Number 1012-0006
OMB Approval Expires

Office of Natural Resources Revenue

The assignment shall be valid throughout any maturity redemption period as designated by the
issuing institution and shall also automatically renew itself when the CD is renewed.
If there are penalties for early redemption, such penalties will be paid out of the obligor’s interest
earned, not out of the principal amount of the CD.
In Witness Whereby, the obligor has hereunto set its signature and seal this ______ day of
__________, ______.
Month

Year

______________________________
Company Name

By: ___________________________
In Witness Whereof, the Issuing Institution has here unto set its signature and seal this
_________ day of ____________, ______.
Month

Year

______________________________
Issuing Bank

By: __________________________
Title: _______________________

Paperwork Reduction Act of 1995 (PRA) Statement: The PRA (44 U.S.C. 3501 et seq.) requires us to inform you that we
collect this information to allow lessees, designees, or payors to stay the effectiveness of an order or decision by posting a surety
instrument. The ONRR uses the information to secure the financial interests of the public and Indian lessors during the entire
administrative and judicial appeal process. Responses are required to obtain a benefit (43 U.S.C. 1334). Proprietary information
is protected in accordance with standards established by the Federal Oil and Gas Royalty Management Act of 1982 (30 U.S.C.
1733), the Freedom of Information Act (5 U.S.C. 552(b)(4)), and Department regulations (43 CFR 2). An agency may not
conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a currently valid
OMB control number. Public reporting burden for this form is estimated to average 2 hours per response, including the time for
reviewing instructions, gathering and maintaining data, and completing and reviewing the form. Direct comments regarding the
burden estimate or any other aspect of this form to the Regulatory Group, Office of Natural Resources Revenue, PO Box 25165,
MS 64000A, Denver, CO 80225.

Form ONRR-4437 (revised 10/2011)

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