What is ASTM E1527?
The ASTM E1527-05 Standard is the industry standard used for Phase I Environmental Site Assessments. The standard is reviewed and revised by the ASTM Committee E50 on Environmental Risk Assessment, Risk Management and Corrective Action. See ASTM E1527-13 for changes made to the Phase I ESA standard in 2013.
What is the current ASTM standard for Phase I ESA?
E1527-13
The current ASTM standard for a Phase 1 ESA is “E1527-13.” And per a mandatory revision cycle, version E1527-21 proposes modern strategies to assess new and existing human health risks and environmental liabilities.
How long is an ASTM Phase I good for?
one year
The ASTM standard states that a Phase I Environmental Site Assessment which was completed less than 180 days prior to the date of acquisition of the subject property is presumed to be valid. Between 180 days and one year, the Phase I needs to be updated fairly comprehensively.
What is ASTM 13?
Section 13 of this practice identifies, for informational purposes, certain environmental conditions (not an all-inclusive list) that may exist on a property that are beyond the scope of this practice, but may warrant consideration by parties to a commercial real estate transaction.
What is a recognized environmental condition?
ASTM defines the recognized environmental condition in the E1527-13 standard as “the presence or likely presence of any hazardous substances or petroleum products in, on, or at a property: (1) due to release to the environment; (2) under conditions indicative of a release to the environment; or (3) under conditions …
What is an ASTM Phase I?
A Phase 1 Environmental Site Assessment is a scientific report following ASTM Standards that evaluates hidden environmental risks and liabilities about a property. To start, a Phase 1 ESA rigorously studies the historical and current land-uses of a property.
How long are phase is good for?
The simple answer is one year – if the Phase I ESA was completed more than 365 days ago then it must be re-completed as it is no longer valid. If the Phase I ESA was completed between 180 and 365 days the Phase I report must be updated where necessary.
What is GST 13 DRC?
DRC – 13 – “Notice to a third person under section 79(1)(c)”. Anotherway of recovery of amount is by realising it from the debtors or any other person from whom money is due or may become due or who holds or may subsequently hold money for or on account of the defaulter.
What is Form GST Asmt 13?
A proper officer has the power to conduct a Best Judgement Assessment when, among other things, the registered person fails to file his/her return within the prescribed time limit. Such an order of Best Judgement Assessment is passed in Form GST ASMT-13.