KEN KIRSCHENBAUM, ESQ
ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE

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Contract sale ends today / documents you should keep / comment on late fees
January 11, 2019

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LAST CHANCE TO SAVE LOTS OF MONEY ON CONTRACTS.
ā€‹Contract Sale ends today at 3 PM - save thousands of dollars

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Here's the deal:
    Buy 1 Residential, Commercial or Fire All in One and get $100 off and $25 off Disclaimer Notice  save $125
    Buy 2 All in One forms and get $100 off first and $200 off second and $50 off Disclaimer Noticeand $100 off alarm.com rider.   Save up to $450.
    Buy 3 or more All in One forms and get same as above and $300 off the third form and $400 off the fourth form.  Save up to $1150.00 [Residential, Commercial, Fire, Home Automation]
    Commercial Mobile Surveillance Lease $1000.  Save $500
    The Fire All in One with Security Rider $1250.00.  Save $400.00  Add the Commercial Fire All in One and the Commercial All in One and get $200 off each.  Save $800.00
    Qualifier Agreement  $1200.00   Save $300.00
    Nationwide DIY with monitoring.  $3500.00  Save $1000.00**
    Nationwide PERS with or without GPS tracking. $3500.00  Save $1000.00**
* Your order must be placed on line at www.alarmcontracts.com and received by our office no later than January 11, 2019 by 3 PM EST.  Orders must contain valid credit card payment.  Fill out the order form; the full prices will show and we will apply the discount before processing the order.  Orders arriving after sale ends will be charged regular published rates.  Orders will be processed in order received.  Rush orders, delivered by email within 48 hours, add 15% - call Eileen to process.

** Does not include consultation or modification
     What's our Guarantee policy re updates?
    Free updates within 6 months of purchase*
    Half price within 6 months to 1 year*
* applies to original purchase only
To check if you need or are entitled to an update contact our Contract Administrator Eileen Wagda at 516 747 6700 x 312.  Update orders are processed after full price or discounted orders.

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Documents you should keep
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Ken
          Two questions on documents we should keep for customers.
1. If someone is canceling due to selling property, we have just been getting a new contract for the new owner, instead of transferring the agreement. Do we need to have any type of canceling document on file for the previous subscriber for canceling?
2. Is there a type of document where the subscriber acknowledges that they are declining a type of service that we offered up front, specifically fire alarm inspections?
          Thank you
Megan      
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Response
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          For the subscriber who moved and you got the new occupant to sign a new contract, you don’t need any document canceling the old contract, but it seems to me the subscriber would want that release.  The old contract remains enforceable if not canceled and the old customer runs the risk that you will enforce the contract seeking 80% of the balance of the contract.  
          I haven’t been recommending the Disclaimer Notice when a Fire All in One is ordered, and couldn’t think of a reason it was useful.  Well, thank you very much because you have raised one very good reason to use the Disclaimer Notice with the Fire All in One.
          The Disclaimer Notice is not an agreement; it’s an acknowledgment from the subscriber that additional equipment and services were offered, and declined.  It also is used to specifically identify points of protection that the subscriber refused to protect when customer and practice would require such protection.  I feel so strongly about the Disclaimer Notice I haven’t raised the price, $175, in 20 years.  Please get and use it for all the All in One agreements, including the commercial Fire All in One.
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Comment on late fees
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Ken
          My experience is that late fees work.  Does your central station charge you late fees?  Do your suppliers charge late fees?   Late fees can also be a great way to work out payment plans with customers.  Use them to your advantage; it is not about generating revenue it is more about getting customers back on track.

Anna 
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Response
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          Late fees are one of those items that are “damned if you do, damned if you don’t”.  Subscriber who really can’t afford to pay for your services are going to be further alienated by late charges.  Late charges that are too creative or aggressive can be rendered unenforceable if they are determined to be penalties.  You can have a flat fee, say $5.00 or a percentage, say 5% or 10% of the late payment as a late fee.  It’s not cumulative.  Late fees need not be confused with interest.  You can charge a legal rate of interest on late payments and a default rate once the contract goes into default.  I think the Standard Form Agreements use 18% per annum.  The usury rate in NY is 24%; some states don’t have a usury rate.  But don’t run the risk of having the contract tossed because it has unenforceable provisions.
          On the other hand it’s important that your customers understand that you require prompt payment.  
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THE ALARM EXCHANGE

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Ken Kirschenbaum,Esq
Kirschenbaum & Kirschenbaum PC
Attorneys at Law
200 Garden City Plaza
Garden City, NY 11530
516 747 6700 x 301
ken@kirschenbaumesq.com
516 747 6700
www.KirschenbaumEsq.com