Prorate Fees Must Be Paid Prior to ICBC Issuing Licence & Insurance Effective January 1 2018
ICBC recently notified brokers and motor carriers by letter that it will no longer be allowing a seven day grace period to pay a prorate invoice when purchasing or renewing insurance, and will instead require payment at the time of the transaction. The change takes effect as of Monday, January 1, 2018.
Insurance brokers were send a letter about this change on October 4, and motor carriers with prorate licenses were sent letters on October 10. Both letters advise that ICBC is making this change to align the licensing process in BC with other International Registration Plan member jurisdictions. The letter states that:
- Payment Required In Advance: effective January 1, 2018, ICBC will require payment of prorate licensing fees before issuing proof of licence and insurance for a prorate licensed vehicle.
- Travel Permits Available: if you need to operate a prorate licensed vehicle before you can remit payment for the prorate licensing fees, you may purchase travel permits for each jurisdiction you need to operate in.
- Remitting Payment: when you receive an IRP invoice from your broker, you may remit payment to either the broker or ICBC’s Prorate department directly.
- Payment Methods: ICBC will accept credit card, cheque, wire transfer, money order, internet banking, broker cheque, or bank draft.
To view a copy of the letter, click here.
Source: Change to ICBC Collection Process for Prorate Licensing Fees by the BC Trucking Association (October 16, 2017).