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Vincent, 29, who admitted in a newspaper interview earlier this month he was receiving treatment for depression, had signed with the non-sanctioned ICL without first discussing it with NZC, chief executive Justin Vaughan said.
"I have met with Lou and the New Zealand Cricket Players Association over the past couple of days and have expressed to them how disappointed I was that Lou had breached his NZC contract," Vaughan said in a statement.
"We stand by these contracts regardless of performance or injury and we expect players to do the same.
"I understand the NZCPA will be talking to players about the need to honour the terms of their contracts."
Wellington's Dominion Post newspaper reported on Friday that Vincent, who had made a return to first-class cricket after walking away from the game temporarily last December, would leave New Zealand later on Friday to join the league.
Vincent joins fellow former New Zealand internationals Darryl Tuffey, Andre Adams, Shane Bond, Chris Harris, Craig McMillan, Hamish Marshall, Chris Cairns and Nathan Astle in the ICL.
The ICL is not recognised by either the Board of Control For Cricket in India (BCCI), which is supporting the official Indian Premier League competition, or the International Cricket Council (ICC) and its member nations.
NZC have said their selectors would be encouraged to overlook ICL-contracted players for their national teams, though only Bond and Vincent had been in recent Blacks Caps teams.
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