(1) Class C carrier contracts shall include:
(a) the names, addresses and phone numbers of the parties;
(b) a description of the transportation contemplated;
(c) a description of the type of freight to be transported or whether persons are to be transported;
(d) a statement of the term of the contract, which shall be no less than 180 days and commence no earlier than the date of issuance of operating authority; and
(e) a statement of rates and charges negotiated between the parties for the proposed services.
(2) In addition to all other requirements, all class C motor carriers shall submit a contract summary form for each contract and have the same approved by the commission prior to transportation commencing.