International Empire Electric Corp.

 

Master Terms & Conditions

 

Effective Date: 01/01/2026

 

These Terms & Conditions ("Terms") apply to all estimates, proposals, quotations, invoices, change orders, purchase orders accepted by International Empire Electric Corp. ("IEEC"), and all labor, materials, equipment, and services provided by IEEC.

By accepting any proposal, issuing a purchase order, requesting IEEC to commence work, or accepting any labor, materials, or services provided by IEEC, Customer agrees to these Terms.

 

1. Payment Terms

Unless otherwise agreed in writing, all invoices are due Net 30 Days from the invoice date.

Progress billing may be submitted monthly or at other intervals determined by IEEC based upon work completed, stored materials, or project milestones.

Payments shall not be withheld because of disputes between the Owner, General Contractor, or any third party.

 

2. Progress Billing

IEEC reserves the right to submit monthly progress invoices based upon labor performed, materials furnished, stored materials, approved change orders, and work completed through the billing period.

Failure to submit an invoice during any billing cycle shall not waive IEEC's right to payment.

 

3. Late Payments

Any balance not paid when due shall accrue a late charge of 1.5% per month (18% annually), or the maximum rate permitted under New York law, whichever is less.

Late fees begin accruing immediately after the payment due date.

Acceptance of partial payments shall not waive IEEC's right to collect the remaining balance, accrued interest, or other contractual remedies.

 

4. Right to Suspend Work

If any invoice remains unpaid after the agreed payment terms, IEEC may, after providing written notice, suspend or reduce labor, material procurement, deliveries, scheduling, fabrication, engineering, supervision, or any other work until the outstanding balance has been paid or satisfactory payment arrangements have been made.

Such suspension shall not constitute default or breach by IEEC.

 

5. Schedule Impacts

Customer acknowledges that suspension or reduction of work resulting from non-payment may affect project scheduling.

IEEC shall not be responsible for any project delays, liquidated damages, acceleration costs, extended general conditions, resequencing, coordination issues, or impacts to other trades resulting from Customer's failure to make timely payment.

 

6. Remobilization

Upon resumption of work following suspension, IEEC shall be entitled to additional compensation for:

• Remobilization

• Additional supervision

• Schedule inefficiencies

• Lost productivity

• Additional labor costs

• Material price increases

• Overtime required to recover schedule

 

7. Material Procurement

IEEC reserves the right to delay purchasing, releasing, fabricating, delivering, or installing materials until payments are current.

Material pricing is subject to market fluctuations until purchased.

 

8. Credit Approval and Credit Limit 

IEEC extends commercial credit solely as a business accommodation and reserves the right to approve, modify, reduce, suspend, or revoke any customer's credit privileges at any time and in its sole discretion.

Credit approval does not constitute an obligation by IEEC to continue extending credit throughout the duration of any project.

IEEC may establish a maximum outstanding accounts receivable balance ("Credit Limit") for any customer based upon, including but not limited to:

• Payment history

• Project size

• Credit references

• Financial condition

• Prior business relationship

• Overall credit risk as determined by IEEC

If Customer's outstanding balance exceeds IEEC's approved Credit Limit, or if Customer fails to make payments in accordance with the agreed payment terms, IEEC may immediately require one or more of the following as a condition of continuing performance:

• Payment in full of all past due invoices

• Partial payment sufficient to reduce the outstanding balance below the approved Credit Limit

• Advance payment for future work

• Weekly progress payments

• Joint check agreements

• Proof of project financing

• Payment bond information

• Personal or corporate guarantees where appropriate

• Any other reasonable financial assurance deemed necessary by IEEC

 

Failure to satisfy these requirements shall constitute sufficient grounds for IEEC to suspend labor, material procurement, scheduling, supervision, fabrication, deliveries, and any other work until satisfactory payment arrangements have been established.

Any suspension resulting from Customer's failure to comply with this Credit Policy shall not constitute breach of contract by IEEC.

Customer acknowledges that any resulting delays, resequencing, remobilization costs, extended project duration, impacts to other trades, or additional costs arising from such suspension shall be the responsibility of Customer and not IEEC.

 

9. Preferred Client Policy

At International Empire Electric Corp., we believe that exceptional service is built on strong partnerships, mutual trust, and timely communication.

IEEC is committed to providing responsive service, rapid mobilization, experienced field personnel, and priority scheduling to clients who consistently honor their contractual payment obligations and communicate proactively throughout the course of a project.

Clients who maintain accounts in good standing may receive:

• Priority scheduling and mobilization

• Preferred manpower allocation

• Accelerated proposal turnaround

• Expedited material procurement

• Increased flexibility for project changes and scheduling requests

• Priority emergency service, when available

Conversely, accounts that become delinquent may be subject to reduced manpower allocation, delayed material procurement, suspension of work, revised payment terms, reduced credit limits, or advance payment requirements until the account is brought current.

IEEC believes that timely payment allows us to dedicate the highest level of service, resources, and responsiveness to every project. Our goal is to build long-term relationships with clients who value quality workmanship, professionalism, and financial partnership.

 

 

10. Pay-If-Paid / Pay-When-Paid 

Contractor acknowledges that IEEC performs work, furnishes labor, materials, supervision, and equipment in reliance upon Contractor's obligation to make timely payment.

Except where otherwise required by applicable law, Contractor's obligation to pay IEEC shall not be conditioned upon Contractor first receiving payment from the Owner.

Any provision contained within a purchase order, subcontract, or other agreement that attempts to delay or condition payment beyond the payment terms expressly accepted by IEEC shall not modify these Terms unless specifically agreed to by IEEC in a written amendment signed by an authorized officer of IEEC.

 

11. Collection Costs

Customer agrees to reimburse reasonable collection costs, attorneys' fees, lien preparation costs, bond claim costs, interest, and court costs where permitted.

 

12. Mechanic's Lien & Bond Rights

Nothing contained within these Terms shall waive or limit IEEC's rights to file, preserve, or enforce a mechanic's lien, payment bond claim, stop notice, or any other remedy available under applicable law.

IEEC expressly reserves all statutory rights and remedies until payment has been received in full.

 

13. Dispute Resolution

The parties agree to first attempt to resolve any dispute through good-faith negotiations between authorized representatives.

If the dispute cannot be resolved within fifteen (15) calendar days, either party may request mediation.

 

If mediation is unsuccessful or the parties mutually agree to waive mediation, all disputes arising out of or relating to the parties' agreement shall be resolved by binding arbitration administered by the American Arbitration Association (AAA), or another mutually agreed arbitration provider.

 

The arbitration shall take place in the State of New York.

 

The arbitrator shall have authority to award all remedies available under applicable law and the parties' agreement.

 

Judgment upon the arbitration award may be entered in any court having jurisdiction.

 

The prevailing party shall be entitled to recover reasonable attorneys' fees, arbitration costs, expert witness fees, and collection costs to the extent permitted by law.

 

14. Continuing Performance

IEEC may, at its sole discretion, continue performing work despite Customer's failure to make timely payment.

Such continued performance shall not constitute a waiver of IEEC's payment terms, collection rights, suspension rights, late payment charges, mechanic's lien rights, bond claim rights, or any other contractual or legal remedy available to IEEC.

No waiver shall be effective unless expressly made in writing and signed by an authorized officer of IEEC.

 

15. Governing Law

These Terms shall be governed by the laws of the State of New York.

Venue for any dispute shall lie in the State of New York unless otherwise agreed in writing.

 

16. Acceptance

Acceptance of any IEEC proposal, estimate, invoice, purchase order, service request, authorization to proceed, or commencement of work constitutes acceptance of these Terms & Conditions.

These Terms survive completion of the project until all obligations have been satisfied.