Ill. Admin. Code tit. 17, § 1545.60 - Performance Deposits for Fixed Price Sales

a) As stated under Section 1545.20(c), forest products will be sold individually by the Department on a first come, first served basis. Payment for the forest products will be required at that time along with a signed contract.

b) A performance deposit may be required to accompany the payment when environmental conditions at the site are conductive to potential damage. The performance deposit must be in the form of a bank draft, cashier's check, certified check, money order or other certified instrument such as as insurance bond and made payable to the Department in an amount equal to at least 10% of the payment, but not less than $100.00. This is subject to increase or decrease prior to advertisement of the fixed price sale.

c) The performance deposits will be retained by the Department until the satisfactory removal of the forest products is made in accordance with the sale contract.

d) The performance deposit will be returned only after an on-site inspection of the sale area has been made, and the conditions of the sale contract have been met and accepted by the Department with complete performance in accordance with the sale contract.

Notes

Ill. Admin. Code tit. 17, § 1545.60