KEN KIRSCHENBAUM, ESQ
ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE
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Should you pursue customer in breach of contract / register for free webinars
February 4, 2022
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Want to present a webinar?
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Want to present a webinar? Contact Ken Kirschenbaum by tomorrow.
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Announcing webinar series 2022. Still time to schedule your webinar presentation. Contact Ken Kirschenbaum to participate in our webinar 2022 series.
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Webinar Title: Specialized financing techniques for the Security Alarm Industry
When: Wednesday, February 9, 2022, at 12:00PM Eastern time
Topic Details: Financing option to grow equity without selling RMR accounts and no chargebacks, holdbacks, Recourse or Risk Presented by: Tony Smith, President of Security Funding Associates (SFA)
Hosted by: Ken Kirschenbaum,Esq.,
Who should attend: Company owners and CFOs
Register here: https://attendee.gotowebinar.com/register/8814691682009291276
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Webinar Title: what's new in the 2022 updated contracts
When: February 15, 2022, at 12:00PM Eastern time
Topic Details: most important updates in the 2022 contracts
Presented by: Ken Kirschenbaum, Esq. Kirschenbaum & Kirschenbaum
Who should attend: Company owners, CEOs, Managers, sales personnel
Register here: https://attendee.gotowebinar.com/register/1716607451924079886
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Webinar Title: why use Disclaimer Notice and join Concierge Program
When: February 16, 2022, at 12:00PM Eastern time
Topic Details: when, how and why to use Disclaimer Notice / why you should join Concierge Program
Presented by: Ken Kirschenbaum, Esq. Kirschenbaum & Kirschenbaum
Who should attend: Company owners, CEOs, Managers, sales personnel
Register here: https://attendee.gotowebinar.com/register/7741884992648350732
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Webinar Title: common issues in buy-sell deals
When: February 22, 2022, at 12:00PM Eastern time
Topic Details: common issues to consider in smaller buy-sell transactions
Presented by: Jesse Kirschenbaum, Esq. Kirschenbaum & Kirschenbaum
Who should attend: Company owners, CEOs, CFOs
Register here: https://attendee.gotowebinar.com/register/1255265567049106699
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Should you pursue customer in breach of contract
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Ken
Got a customer that is six months into his initial five-year term on a contract he wants to cancel. I have our phone conversation where he says that there are no issues, that he’s happy with the service and he just doesn’t want to pay for it anymore.
Should I refer him to your collections department? As always I’m concerned with the nuclear fallout of a disgruntled customer.
Anthony
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Response
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There are two reasons [at least] for entering into alarm contracts with a term. The Standard Form Agreements are provided with 5 year term for residential and 10 year term for commercial. Of course you are free to change the term if you want to. But the reason for the term is because you believe you will need that number of minimum payments for the account to be profitable and you believe that a contract with a term will be more acceptable to a potential buyer of your alarm accounts, fetching a higher multiple.
The Standard Form Agreements all come with an arbitration provision which makes the first phase of the collection process fairly easy, inexpensive and quick. If you prevail you may have to seek court approval of the award, but that’s a much simpler process than starting a lawsuit against your subscriber in a court proceeding for the breach of the contract.
Every collection case is going to cause you to have to spend some time organizing the file and sending it to K&K’s Collection Department, and then some time on the arbitration process. Some cases settle quickly, some don’t. Some cases recover 100% of the demand and others less; and some nothing if you’re in the wrong or the customer has no assets to pay the debt.
Reservations aside, you enter into contract with the full intent of performing your end of the deal and expecting the customer to complete performance of the customer’s end of the deal. K&K will take on any matter for an alarm client, so don’t hesitate to send over the customers in breach. If you’re new to the collection process contact our head paralegal Kathleen Lampert to 516 747 6700 x 319 or KLampert@Kirschenbaumesq.com
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To order up to date Standard Form Alarm / Security / Fire and related Agreements click 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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ALARM ARTICLES: You can always read our Articles on our website at ww.kirschenbaumesq.com/page/alarm-articles updated daily ********************
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Click here: https://www.kirschenbaumesq.com/page/what-is-my-alarm-company-worth
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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
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