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 ****************************** How long should we save dead account information / contract for emergency light and exit light January 25, 2023 ********************* How long do you suggest we save dead account information ********************* Ken, How long do you suggest we save dead account information? Is there an industry standard for saving information on a cancelled account? 2 years? 5 years? 10 years? We are changing software so we have to decide what the cutoff is to bring over dead accounts. Thank you, Nicole *********************** Response *********************** This may be less of an issue with electronic records than it was when records were maintained on paper and took up lots of shelf space. There are several standards for maintaining records and the answer likely depends on who you have asked. I am involved in contract enforcement, either to collect what the subscriber owes or defend the alarm company from claims. In either case the issue is what is the outside date a claim can be brought? States do have different Statute Of Limitation for causes of action. In New York the statute of limitation requires an action for breach of contract be brought within six years of the breach. For negligence actions the outside time is three years. Fraud is a bit longer because it’s six years or two years after discovery of the fraud, whichever is longer. I understand that IRS [and likely your state taxing authority] requires you to maintain your records for seven years as I understand it. If you know of a loss and potential claim then retain the records until you are sure the matter is resolved. Otherwise the statute of limitations is the minimum period. Maximum would be seven years unless you know of a possible claim. *********************** contract for emergency light and exit light *********************** Ken What contract for emergency light and exit light service/testing?? Ron ************************* Response ************************* I am most comfortable going with the AHJ who requires the emergency lighting and exit lights and which license is required to install and service those systems. If it’s spec’ed out with the fire alarm then include it in the Fire All in One. If it’s required by the Building Department then the Fire Protection All in One would be the better choice. *************************** To order up to date Standard Form Alarm / Security / Fire and related Agreements click here: www.alarmcontracts.com *************************** 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 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