Nanaimo By-law 7126, s. 15(1) — Management and Protection of Trees Bylaw

Where replacement trees or retained trees are required as a condition of a permit or as a consequence for cutting or removing trees without a permit, or damaging trees beyond repair, or cutting or removing trees in excess of the number allowed by the permit, the owner or person responsible for the cutting, removal or damage shall provide to the City a security deposit and the security deposit:

• (a) shall be in the form of a cash deposit or an automatically renewable, irrevocable letter of credit drawn upon a chartered bank in the form acceptable to the City of Nanaimo;
• (b) shall be equal to 120% of the value of all the replacement trees or retained trees, site restoration and clean up measures required by the City of Nanaimo. Replacement trees or retained trees, restoration and clean up values shall be estimated by a Qualified Environmental Professional, Certified Arborist or Landscape Architect having reference to the Guide for Plant Appraisal or similar reference.