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Article: New curbs on penalties for non-payment of freight bills.
- Article from:
- Gifts & Decorative Accessories
- Article date:
- September 1, 1989
- Author:
CopyrightCOPYRIGHT 1989 Reed Business Information, Inc. (US). This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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New Curbs on Penalties for Non-Payment of Freight Bills
About a year ago, I reported on an Interstate Commerce Commission decision which took effect Apr. 3, 1988, authorizing all for-hire surface carri-carriers it regulates -- railroads, motor carriers and water carriers -- to publish rules allowing them to recover collection costs from shippers or consignees who fail to pay freight bills.
Among penalty options given carriers were (1) rules establishing a straight line payment charge -- such as $500 or 15 percent, whichever is greater -- applicable if the freight bill is not paid within a specified number of days, or (2) rules calling for the forfeiture of ...