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 ********************** Comments on are scanned contracts legit May 18, 2023 ********************** Comments on are scanned contracts legit from article on April 29, 2023 *********************** Ken, Your advice to the North Carolina alarm company about scanned contracts was, as usual, spot on. You mentioned that it is important to scan the entire agreement and that the contracts will be important when the company sells. We do contract reviews in conjunction with due diligence when companies sell and we love scanned agreements. It saves my staff from flying to the Seller’s location; we can look at them online. Occasionally we run into situations in which the Company only scanned the front page of the contract. The reasoning is that the front page contains the customer information and the Company can quickly access it online. The usual excuse is that this should be all that we need as it has the customer name, address and payment amount. Problem is that many of the important provisions, such as the limitation of liability, are not on the first page. Occasionally customers modify or strike these provisions so we want to see that they haven’t been altered. Yes, the contract documents the customer relationship and the RMR amount, but the Buyer is also concerned about limiting their liability, auto renewal, and many other issues that are the reason for the contract in the first place. Most times the original contracts are still around, but it takes a lot of time and effort to scan them. Not something to be doing in the middle of a transaction. A few times the contracts had been shredded and are gone. This causes major issues. They may seem like pieces of paper to the untrailed eye, but with a value of over $1,000 each, they may be worth more than their weight in gold. Mitch Reitman 817 698 9999 XT 101 Reitman Consulting Group Fort Worth, TX 76133 http://www.reitman.us ************************ Ken Thanks; Very interesting and good stuff Ted Leventhal 215 750 6466 x 100 Marktek Inc www.marktekinc.com *********************** Ken, Can we download straight from DocuSign the completed file and upload to our CRM system? Signed Anonymous ************************* Response ************************ Thanks for confirmation. And thanks for pointing out you can download from the service you use to send out the contracts. I suggest you do just that and not just rely on the company that send it out preserving it. ************************* STANDARD FORM AGREEMENTS: To order up to date Standard Form 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 www.kirschenbaumesq.com/page/alarm-articles updated daily ************************* THE ALARM EXCHANGE - the alarm industries leading classified and business exchange - updated daily. https://www.kirschenbaumesq.com/page/alarm-exchange ************************* 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 / 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. ************************** 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
