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Lender’s view during pandemic / Upgrade to alarm contracts:mPers call list / new webinar - tomorrow: sign up now:
May 18, 2020
Webinar – Round Table Discussion – May 19, 2020 noon ET
Topic:  Alarm Buy-Sell Transactions:  The Good, Bad and Ugly.  This webinar will be a discussion on structuring buy-sell agreements, concerns for sellers and buyers, stories about transactions that went north, sideways and south; good, bad and ugly
When:  May 19, 2020  12 PM ET
Presented by:  Dennis Stern,Esq and Ken Kirschenbaum,Esq.  We hope to include attendees who would like to participate in this Round Table discussion, so those who want to participate should have webcam and audio ready.
Who should attend: owners and general managers
Register Here:
Lender’s view during pandemic
            You tackle the question of valuations in your May 5, 2020 Newsletter and bring up the question of how lenders are approaching things during the pandemic.  As a lender, Alarm Financial Services has been in close contact with our current dealers to get direct feedback as to how their businesses are faring.  We are very pleased with the way these dealers are adapting to the situation.  We continue to make funds available to them and they are benefiting from lower interest rates.  AFS is currently providing financing for a few dealers who are in the process of closing on acquisitions.  
            We are employing extra scrutiny on these deals to make sure the accounts being acquired are not particularly vulnerable in the current economic conditions.  In some cases it makes sense to put a temporary pause on the acquisition; in other cases it makes sense to press ahead.  Just like in any economic cycle, up or down, there are good deals and there are bad deals.
Jim Wooster
Alarm Financial Services, Inc.
866-204-9350 ext 1200
415-509-4750 cell
            Certainly one word that comes to mind when thinking about financing for the alarm industry in these times is, caution, and caution will translate into tight fiscal restraints and conservative lending protocols.  Register for tomorow's webinar, which hopefully will be a Round Table discussion with industry veterans like, and including, Jim Wooster.  See you at noon tomorrow, ET.
Upgrade to alarm contracts:  mPers call list
    I would like to suggest that clause be added to the PERS and mPERS contracts that allows the the company to contact either contacts on the account or a designated backup billing contact in the event of a billing issue with the account.  This could help reduce attrition, due to unintentional missed payments.
Mark Fischer
            Excellent idea, and one I will implement in not only our PERS agreements, but all the Standard Form Agreements in the Call List.
            But the suggest for the mPers agreement does make the most sense.  Not only for mPers, but the PERS agreement.  There isn’t a separate agreement for mPES [which means mobile personal emergency response].  Pers really started as Medical Alert with a base unit in the home.  The base has a button to push and connects with the Monitoring Center with two way voice.  Then the pendant came along and it communicated with the base.  Then cellular permitted the PERS unit to reach the Monitoring Center from anywhere the cell could communicate.  It became mobile.
            PERS is generally associated with the elderly, who for various reasons may have someone else taking care of their finances; paying their bills. The end user PERS subscriber may not be able to attend to paying bills or updating ACH or credit card information.  It makes sense that a third party be authorized and that the alarm company be authorized to communicate with the third party.  Adding this to the Call List accomplishes this.  If you don’t use the Call List we provide with the All in One forms or the PERS forms then the authorization can go in the main agreement.  Look for this 2020 update in your new agreements.

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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