Start/Stop Service

MVEC can grant credit terms to builders and developers who have been pre-approved by filling out the Approved Builder application. The application should include your most recent audited Financial Statement and the following:

• Income statement (required)
• Balance sheet (required)
• Cash flow statement
• Audit opinion letter
• FYI – tax returns are NOT accepted

Once all info above is received:

• A bank reference form will be sent to your bank and to the trade references listed on the application.
• Upon return of these items, MVEC will make the determination whether to approve or deny the request, and the applicant will be contacted.
• The approval process can take up to 3 weeks. All decisions for extending credit are at the discretion of MVEC.

Denial Factors

• Incomplete application (missing audited Financial Statement or Bank Letter of Credit Worthiness)
• Payment history
• Bankruptcy
• UCC filings
• Negative bank or trade reference
• Bankruptcy
• Deposit History
• Collections Agency

Monthly, MVEC will monitor the credit history of approved builder accounts.  If unacceptable credit history, which includes any of the following:   late payment, bankruptcy, returned check/bank item(s), collections, cutoff notice, disconnection for non-pay, delinquent notice, meter tampering, deposit on existing MVEC account, uncollectible, or three years of inactivity, you may be removed from the approved builder list.

MVEC will re-evaluate a contractor’s request to be considered for MVEC’s Approved Builders List if all payment activity is prepaid and no other collection incident is evident. This is based on one year of clean history from the latest incident causing removal from Approved Builders List. If a second incident occurs after the one-year suspension, the contractor will be placed on Cash Only status for another (12) twelve-month period.

If you have any questions regarding the Approved Builders Process, please call Member Support 8 a.m. to 4:30 p.m. at 952-492-2313.

MVEC Limited Liability for Property Damages

Minnesota Valley Electric Cooperative makes every effort to provide reliable and dependable electricity through regular maintenance, tree trimming, and the use of equipment designed to help make the delivery of electricity as dependable as possible.

However, in spite of taking extra precautions to ensure a dependable supply of electricity is provided at a proper voltage, MVEC – or any other utility – cannot provide perfect electric service at all times. It is beyond the control of MVEC to completely eliminate interruptions in electric service.

Should you suffer damage to personal property due to factors beyond the Cooperative’s control (high winds, lightning, wildlife, vehicle accidents, ice or severe snowstorm, etc.), MVEC is not legally liable for this damage.

Many members have electrical equipment and home computers that are extremely sensitive to even minor changes in power supply, such as blinks. These members should consider adding special protective equipment such as a very inexpensive line filter that eliminates most problems caused by electronic noise and static interference, to a more expensive device that provides an uninterruptible power supply.

Continuity of Service

MVEC will endeavor to furnish continuous service, but will not guarantee uninterrupted service.

In case a member requires three-phase service, the installation and maintenance of adequate running overcurrent protective devices to protect against single-phase conditions and phase reversal are variable, and installation and maintenance are the responsibility of the member.

The Cooperative shall not be responsible due to service interruptions or variations in service resulting from acts of God, or public enemies, accidents, strikes, riots, wars, repairs, order of Court, or other acts reasonably beyond the control of the Cooperative. MVEC shall not be liable for damages directly or consequential, resulting from such interruption or failure.