MEMORANDUM OPINION & ORDER Petitioners Trustees of the New York City District Council of Carpenters Pension Fund, Welfare Fund, Annuity Fund, and Apprenticeship, Journeyman Retraining, Educational and Industry Fund, Trustees of the New York City Carpenters Relief and Charity Fund, the New York City and Vicinity Carpenters Labor-Management Corporation, and the New York City District Council of Carpenters (collectively, “Petitioners”) seek confirmation of an arbitration award against Respondent Piccini MNM, Inc. Respondent did not oppose the petition. For the reasons set forth below, the petition is granted. BACKGROUND1 There are four Petitioners in this action. First are Trustees of the New York City District Council of Carpenters Pension Fund, Welfare Fund, Annuity Fund, and Apprenticeship, Journeyman Retraining, Educational, and Industry Fund, a group of employer and employee trustees of multiemployer labor-management trust funds organized and operated in accordance with the Employee Retirement Income Security Act of 1974 (“ERISA”). Pet. 4. Second are Trustees of the New York City District Council of Carpenters Relief and Charity Fund, a charitable organization established under Section 501(c)(3) of the Internal Revenue Code. Id. 5. Third is New York City and Vicinity Carpenters Labor-Management Corporation, a New York not-for profit corporation. Id. 6. These three entities are referred to as the “Funds.” Fourth is the New York City District Council of Carpenters (the “Union”), a labor union. Id. 7. Respondent Piccini MNM, Inc. is a New York corporation. Id. 8. Through its membership in the Association of Wall Ceiling and Carpentry Industries of New York, Inc. (the “AWCC”), Respondent entered into a collective bargaining agreement the Union on or about July 1, 2011. Id.
9-10, Ex. B (“CBA”). The CBA requires Respondent to remit contributions to the Funds for every hour worked by its employees within the trade and geographical jurisdiction of the Union and to make its books and records available for audit. Id. 13; CBA art. XVI, §1(a). The CBA further provides that either party may seek to arbitrate disputes or disagreements concerning payments to the Funds before an impartial arbitrator. See CBA art. XVI, §12. The CBA binds employers to the Funds Collection Policy, pursuant to which the Funds “shall determine the estimated amount of the employer’s delinquent contributions.” Pet. 18. In the event that the Funds initiate a dispute over unpaid contributions, the CBA entitles the funds to collect “(1) interest on the unpaid contributions at the prime rate of Citibank plus 2 percent; (2) liquidated damages in the amount of 20 percent of the unpaid contributions; and (3) reasonable costs and attorney’s fees incurred by the Funds in collecting the delinquencies.” Pet. 19; see also id. Ex. C (“Funds Collection Policy”) §V. The instant dispute arose when Respondent failed to comply with an audit. Id. 20. Estimating the amount owed to be $417,754.20, Petitioners initiated arbitration before the designated arbitrator. Id.