Ill. Admin. Code tit. 92, § 1425.50 – Collect On Delivery ("C.O.D.") Bond Coverage | Midpage
§ 1425.50
Ill. Admin. Code tit. 92, § 1425.50
Collect On Delivery ("C.O.D.") Bond Coverage
AUTHORITY: Implementing Sections 18c-1901 through 18c-1905 and authorized by Section 18c-1202(9) of The Illinois Commercial Transportation Law [625 ILCS 5/18c-1101, 18c-1202(9) and 5/18c-1901 through 1905].ILLINOIS COMMERCE COMMISSION
a) The minimum amount of C.O.D. insurance or bond coverage required of a motor common carrier of property for each shipper or consignee for failure of the carrier to remit payment of C.O.D. monies is $10,000.
b) Waiver of requirement. An intrastate motor common carrier of property may be excused from the requirement of filing proof of C.O.D. insurance or bond coverage if:
1) The carrier has filed with the Commission a completed copy of the Commission's C.O.D. Bond Waiver Affidavit form stating that the carrier will not, at any time, accept a C.O.D. shipment, and the carrier does not, at any time, accept a C.O.D. shipment; and
2) The carrier advises each shipper in writing, prior to rendition of the service, that it does not accept C.O.D. shipments. The burden of proving compliance with this latter requirement shall be on the carrier.