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Site Assessment (Environmental)

 
Business Dictionary: Site Assessment (Environmental)

An evaluation of a site, prior to acquisition of title to the property, for the existence of hazardous waste. Under the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA), as amended by the Superfund Amendments and Reauthorization Act of 1986 (SARA), anyone acquiring title to a site is responsible for environmental damages resulting from hazardous wastes on the site. However, there are legal defenses for landowners who conduct proper site assessments prior to acquisition.

A CERCLA site assessment may be conducted in two phases. A phase I assessment involves research into previous uses of the site and whether a hazardous waste condition is likely to exist. If evidence from this phase suggests a problem, a phase II assessment is conducted to discover the extent of the problem. Either assessment requires the use of an environmental consultant and special legal counsel.

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Business Dictionary. Dictionary of Business Terms. Copyright © 2000 by Barron's Educational Series, Inc. All rights reserved.  Read more