KEN KIRSCHENBAUM, ESQ
ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE
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Reducing the contract term / Why you should use our central station - webinars continue today
July 18, 2020
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Monday's webinar:  starts at noon ET.  Register now:
Affiliated Monitoring - July 20, 2020
https://attendee.gotowebinar.com/register/6582371903028819982
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Reducing the contract term
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Ken
            The Standard Residential All In One contract term is 5 years.  I was wondering if we could alter it to 1 year and then month to month?  What might your recommendation be and any cost impacts?
 Thanks,
Travis 
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Response
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            Our clients come up with ideas to change the Standard Form Agreements all the time.  I must say, reducing the term is a popular idea, though less imaginative in my view than other ideas [such as increasing the limitation of liability to 1 million dollars, instead of $250, or increasing the warranty from 90 days [1 year for residential] to 5 years, making the indemnity mutual, reducing the liquidated damage provision from 80% to 50%.
            So the answer is, yes, you can change the term to one year; you can change the term to month to month.  I’ve seen idiot subscribers insist on a provision that permits the subscriber to cancel on 30 or 60 day notice for any reason, and still object to more than a one year term.  
            The “cost impact”, as you put it, is interesting.  If would be risky putting in a job for cost or less if you didn’t have a reliable contract with a long enough term to permit you to recoup your cost and profit.  On the other hand, it’s true that a contract with 3 years to go isn’t really much more valuable, from an equity perspective, than a contract that’s in month to month renewal.  While not unheard of, it’s not common for a buyer of alarm accounts to insist on original term contracts only unless there are no written contracts to transfer or the contracts are so poorly written or executed that they are deemed worthless.  But if the contract is a Standard Form Agreement the multiple offered should be the same for current term or renewal term agreements.
            A 5 year term contract will give you more security and comfort than a shorter term, or no term, contract.  If all your contracts are month to month then expect a multiple offer to be reduced or the guarantee period to be longer, or both.
            There are times when it may be appropriate to reduce the term.  A take-over account where you do no work other than to reprogram the panel may be an account that you permit to run month to month.  If you’re installing a system below or at cost then you need to be assured of a longer term.
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Central station webinars
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            I am writing this in advance of the central station webinars start date, so today is the third presentation.  Hopefully they are going well and we have great attendance over the next few days and weeks.
            Not all central stations on The Alarm Exchange have opted to participate as of yet.  You still have time.  Contact our Concierge Coordinator Stacy Spector,Esq at SSpector@Kirschenbaumesq.com or 516 747 6700 x 304.  You just might pick up one or more dealers.
            And, speaking of dealers, selecting the right central station is important; there’s lots to consider.  K&K is saving you the trip to Vegas and bouncing from one booth to another, stuffing your pockets with candy and pens [not that there is anything wrong with that].  You have and you will be hearing from the best of the best in this webinar series.  
            Keep in mind that any legitimate central station is going to require you to sign a Dealer Agreement.  This isn’t a car rental contract at the airport.  It can be modified and you need to ask for those modifications.  I’ve designed a Rider that applies to every central station Dealer Agreement because it includes all the provisions a dealer should be asking for and is entitled to.  If you are negotiating with a new central station or re-negotiating with your current central station, be sure to get the Rider.  It’s $500 and well worth it.  Order it at www.alarmcontracts.com in the Monitoring Centers Contracts category.
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Central Station* 2020 webinar series K&K is hosting webinars by central stations, one at a time, who will address "why you should be using our central station".  Each webinar will be approximately 20 minutes and then Q&A opportunity.  See what your central station has to offer or what others offer, enabling you to choose the right central station for you.  You should be using a central station listed on The Alarm Exchange to be assured of quality and more importantly, accountability.
  *  only central stations on The Alarm Exchange will be invited to participate
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Register Now for the CS webinar series: 
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Affiliated Monitoring - July 20, 2020
https://attendee.gotowebinar.com/register/6582371903028819982 

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Dynamark Security Centers -  July 21, 2020
https://attendee.gotowebinar.com/register/2732409948268814863
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Stanley Security Wholesale Monitoring  July 22, 2020
https://attendee.gotowebinar.com/register/1266411303572956432
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Allstate Security Industries Inc – July 23, 2020
https://attendee.gotowebinar.com/register/7997485149440152333

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General Monitoring Services  - July 28, 2020
https://attendee.gotowebinar.com/register/6847800607085109776
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Cops Monitoring - July 29, 2020
https://attendee.gotowebinar.com/register/5614688421138368523 

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Security Partners - July 30, 2020
https://attendee.gotowebinar.com/register/2765625095170808591 
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National Monitoring Center - July 31, 2020
https://attendee.gotowebinar.com/register/2527889790544756495
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Central station 2020 webinars
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             Not all central stations listed on The Alarm Exchange have opted to participate in our webinar series, "Why you should be using our central station" and I've been wondering why.  Only answer I can come up with is, apparently, they don't think you should be using their central station.  Go figure.
            Our central station's webinars have begun.  Register now.  
            Central stations will have the opportunity to tell you what services they offer, to what extent the services are unique or specialized and what you can expect to pay.
  
            The webinars offer an excellent opportunity to interact with your central station, scope out another central station, and consider whether you want to move accounts or open new accounts with a particular central station.  Am I encouraging central station hopping?  No, but I am encouraging you to use central stations listed on The Alarm Exchange.  Why, for you, not me.  You get the added protection of knowing that the listed central stations are expected to deal with dealer issues and cooperate with a goal of resolving disputes. Those that fail to co-operate risk having their post removed from The Alarm Exchange.  That may not sound like a big deal to you, but check out The Alarm Exchange central station category.  Every major reputable central station is participating.  If your central station isn’t, move to one that is.  If you don’t, don’t bother complaining to me about problems you have with the central station; I have no relationship with that central station and won’t be able to make a call to resolve your issue.  
            So make some time to attend the webinars, by video or on your phone.  They will all be recorded and you will be able to view or hear them by visiting the K&K website and navigating to the alarm webinars:  https://www.kirschenbaumesq.com/page/alarm-webinars
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To order up to date Standard Form Alarm /  Security / Fire and related Agreementsclick here:  www.alarmcontracts.com
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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.
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NOTICE:  You can always read our Articles on our website at ww.kirschenbaumesq.com/page/alarm-articles
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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
www.KirschenbaumEsq.com