COD and TOC (total organic carbon) are both used to characterize organic load in wastewater. TOC accurately gives you the amount carbon present where COD gives you an idea about how much oxidant will be needed to oxidize these pollutants into CO2 and H2O. Cl- strongly interfere with the COD measurement so be careful with seawater!!
If the water matrix doesn't change very much you can also correlate COD and TOC, because when you don't have a TOC analyser the analysis of TOC can be quit expensive. But If you want to do so I would suggest to check you correlation regularly.
If I am to define a limit for TOC for a recreational zone for instance, how do I go about it? Is there any guide which give you an indication which method is appropriate for coastal water analysis and how to set the limits?