KEN KIRSCHENBAUM, ESQ ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE You can read all of our articles on our website. Having trouble getting our emails? Change your spam controls and whitelist ken@kirschenbaumesq.com ****************************** Comment on When signing with builder, commercial or residential all in one, and who should be signing June 18, 2024 ********************** Comment on When signing with builder, commercial or residential all in one, and who should be signing from article on June 5, 2024 ********************** Ken, Reading Lonny’s email on June 5, 2024 reminds me of an issue that we often see when performing due diligence in an acquisition. He asked “When signing with builder, commercial or residential all in one, and who should be signing?” You correctly pointed out that both the contractor and customer should sign separate Agreements. One issue that we run into in a due diligence is that many times the general contractor signs the Agreement, and a property management company takes over at completion, but the management company never signs and Agreement. Another issue that we often see is that the property management company requires the Alarm Company to use their Agreement. These Agreements are typically unassignable and require that the Alarm Company indemnify them against any liability. When a customer wants to use “their contract” an Alarm Company should not attempt to DIY it. This is the time to have an attorney review it. Ken’s concierge service is a great way to get this done. Keep in mind that when it comes to contracting, the management company knows what it is doing. Far too often Alarm Company owners, eager for the install, monitoring, and service, blindly sign away their rights. It might be reasonable to agree to some sort of indemnification during the installation phase because a tech could cause some minor physical damage to the building. It is not reasonable for the Alarm Company to indemnify the owners of a $20 million building during the monitoring phase. The Alarm Company’s insurance may not cover this indemnification, and, even if it does, a claim could easily surpass policy limits. Is this legal advice? No, this is business advice. Don’t be blinded by a $40,000 install with hundreds of dollars of monthly monitoring, service, and inspection revenue. Involve your attorney. Better yet, subscribe to Ken’s concierge program. Mitch Reitman 817 698 9999 XT 101 Reitman Consulting Group http://www.reitman.us ************************ Response ************************ Good business advice should coincide with accurate legal advice. Thanks ************************ STANDARD FORMS Alarm / Security / Fire and related Agreements click here: www.alarmcontracts.com *************************** CONCIERGE LAWYER SERVICE PROGRAM FOR THE ALARM INDUSTRY - You can check out the program and sign up here: https://www.kirschenbaumesq.com/page/concierge or contact our Program Coordinator Stacy Spector, Esq at 516 747 6700 x 304. *********************** ALARM ARTICLES: You can always read our Articles on our website at ww.kirschenbaumesq.com/page/alarm-articles updated daily ******************** THE ALARM EXCHANGE - the alarm industries leading classified and business exchange - updated daily ************************* Wondering how much your alarm company is worth? Click here: https://www.kirschenbaumesq.com/page/what-is-my-alarm-company-worth ****************************** Getting on our Email List / Email Articles archived: Many of you are forwarding these emails to friends or asking that others be added to the list. Sign up for our daily newsletter here: Sign Up. You can read articles and order alarm contracts on our web site www.alarmcontracts.com ************************** 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 www.KirschenbaumEsq.com
