Our credit team strives to provide our customers with the highest level of support. We have a combined 100 years of service in the HVAC industry. We collaborate with our sales team to ensure your experience is of the highest standard. If the information below does not answer your questions you may reach the credit department at 708-418-7920.
|Electronic Credit Application||Open Account Credit Application||COD Account Application|
|Illinois Certificate of Resale||Indiana Certificate of Resale||Wisconsin Certificate of Resale|
|Invoice Gateway||Dispute an Invoice||Lien Waiver Request|
|Job Information Sheet||Request for Escrow Job Approval||Joint Pay Agreement|
|Authorized Buyers List||Access to Marketing||Personal Guaranty|
|Security Agreement||Contact List||EPA Certification|
New customers are required to complete either a COD Account Application or an Open Account Credit Application. If you are a customer that likes to pay for everything up front then our COD Account Application is the way to go. This form takes less than a minute to complete. Please remember to sign. The application should be sent to Michael Dan (Credit Administrator) by email at firstname.lastname@example.org or by fax to (708) 868-7009.
If you desire to have an open line of credit then you will need to complete the Open Account Credit Application. Your application cannot be processed and an account established in our system unless you sign where requested. The application should be sent to Michael Dan (Credit Administrator) by email at email@example.com or by fax to (708) 868-7009.
As stated above our desire is to provide you with the highest level of support and this translates into providing you with the highest credit line that you can qualify for. There are several ways that we can increase your credit line beyond the normal credit checking of references and credit bureaus. If you sign the Personal Guaranty and maintain a high credit rating this will enable us to consider extending additional credit when you get that large job. Likewise the signed Security Agreement provides TEC/NEC additional security because you are giving us a secured interest in your inventory and receivable assets. Maintaining strong financial statements and providing us copies at least on a yearly basis again enables us to keep your line maxed out, so you can grow your business. If you require a credit line in excess of $100,000.00, we would encourage you to consider completing the Personal Guaranty and/or Security Agreement document(s) and providing us a copy of your year end financial statements.
Our standard open account terms are 1% 10th prox net 30th. For example, an invoice billed in September needs to be paid by October 10th to take advantage of the discount; otherwise it is due October 31. We assess a monthly service charge of 1.5% on all past due balances. Failure to pay any outstanding balance within terms may result in the temporary denial of further credit . We provide credit information on a monthly basis to several credit bureaus. Failure to secure payment from your customer is not reason for dispute.
If you wish for TEC/NEC not to assess you sales tax on your purchases complete the appropriate tax certificate for your state and return to Michael Dan at firstname.lastname@example.org or by fax to (708) 868-7009. He will take care of updating your account.
Please submit your request to Michael Dan at email@example.com or by fax to (708) 868-7009.
Our customers gain access to their account when they sign up with invoice Gateway. Here you will have access to print and download invoices and statements, and also make payments online by Electronic Funds Transfer (EFT). Enrolling is very easy. When you receive your first invoice you will note an Enrollment Token in the bottom right hand corner. Simply click on the Invoice Gateway link above enter the information required and your enrollment token and you are minutes away from access. No longer is there a need to call into our offices and possibly waste time on hold when you can have access at your fingertips.
As much as I hate to say it we are not perfect. When this happens we at TEC/NEC want to make sure your dispute is handled promptly and efficiently. Simply click on the Dispute an Invoice link above and enter the information and attach any supporting detail for your claim. The Credit Analyst and Salesman assigned to your account will be notified by e-mail. While not all claims are equal we strive to resolve disputes within 30 days with many resolved in 24 hours. Disputed invoices will not incur a service charge. All disputes must be claimed within 6 months of the invoice date.
Need a waiver for a job? We make it very easy. By clicking on the Lien Waiver Request link above you can choose between our standard waiver that is acceptable by most title companies and general contractors or you can choose the Chicago Title and Trust waiver. You will be asked to select between a partial and final waiver. If these waiver types will not work because of some other requirement you can e-mail the form to firstname.lastname@example.org. Complete the requested information form and click submit. Your Credit Analyst will receive an e-mail regarding your request and will begin processing. Waiver requests submitted before 3:00 PM daily will go out the same day provided payment has been received or arrangements have been made to exchange for your check.
At TEC/NEC we like to track larger commercial and residential jobs. This is very important for both the customer and TEC/NEC for several reasons. First, if you have an open line of credit the creation of Job Ship To record enables us to approve your job and not impact your credit line. Each job will be assigned a credit line in essence extending your existing credit line. Please understand due to a myriad of circumstances approval of your job may require a down payment, payment schedule, additional security or a combination thereof. Second, our goal is to make sure we team with you to ensure we are both paid within terms. By tracking the status of the job we will stay in communication with you to make sure the job proceeds smoothly. If there is a hiccup we can take steps to make sure everything gets back on track.
The Job Information Sheet should be completed for all jobs $10,000 and above and returned to the Credit Analyst responsible for your account. If you are not currently obtaining this information on your jobs, you should start immediately, as this is the information you will need to provide your attorney, so they can protect your interests.
A third reason for obtaining this information is that TEC/NEC will run credit reports at no cost to you to make sure that the owner or general contractor are in good standing. If not we can work together to create a strategy to secure the job.
You may download the Job Information sheet by clicking the link above.
Some jobs are paid out through a third party escrow agency. This could include a title company, attorney, bank or another acceptable party. In these cases the escrow agency will be paying all contractors, subs and suppliers directly. When this is the case we need you to complete a Request for Escrow Approval. This form gives us authorization to confirm with the escrow agency. Once we receive confirmation from the escrow agency that we are included on the Contractors Affidavit a Ship To record will be set up and a credit line established. If the project is new and we have not been included yet on the Contractors Affidavit, but will be included on an upcoming request then you will need to send written communication to the escrow agency. Your request should read similar to this:
Dear Title Company,
This is to advise you that Temperature Equipment Corporation will be listed for $_____(amount requested) on the next Contractors Affidavit. It is very important that you include the escrow # as part of your written communication.
You may download the Request for Escrow Approval by clicking on the link above.
Another way to secure a job or extend credit on a large job is to enter into a Joint Pay Agreement with either the owner or general contractor. This takes into account the credit worthiness of either of those parties and subjects them to our terms. This practice is becoming more widely employed as owners and general contractors look for assurances that suppliers are paid eliminating risk of a possible lien.
|Pat Opatera – Credit Analyst||
|Natalie Schultze – AR/Credit Administrations Manager||
|Mike Trippiedi – Credit Analyst||
|Rick Legaspi – Credit Analyst||
|Michael Dan – Credit Administrator||
|Alyssa LaFevre – Accounts Receivable||
|Melissa Wilkinson – Accounts Receivable||
Our credit team looks forward to working with you on your business endeavors. The key to a successful relationship is communication. We realize from time to time things happen that can have a significant impact on your business and thus impact TEC/NEC. I urge you not to avoid those matters, but rather call your Credit Analyst to keep them informed.
If you have any questions please give me a call at 708-418-7834.