New ASTM Phase I Standard Under Development- What to Expect
ASTM International publishes the accepted standard for performance of Phase I environmental assessments to evaluate a property’s environmental condition and assess potential liability for any contamination. U.S. EPA’s “All Appropriate Inquiries” Rule (AAI) recognizes the current ASTM Phase I standard, ASTM 1527-13, is consistent with the requirements of AAI and can be used to satisfy the statutory requirements for conducting AAI. This includes establishment of the Bona Fide Purchaser Defense (BFPD) to CERCLA liability.
The…
