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 ****************************** Tariffs and price increases April 30, 2025 ****************** Tariffs and price increases ****************** Tariffs have become a reality. Price increases are inevitable. The alarm industry gets much of its equipment form China, particularly the cameras. My guess is that most of the equipment is from other countries. Price increases are also evitable. You are probably wondering what you can do about price increases affecting contracts you have already signed and contracts you're about to sign. First, in view of yesterday's article on Force Majeure, let's discuss that issue. The price increase is not a Force Majeure event. You can argue it, but I doubt you win in the end. And, Force Majeure would only allow you to cancel your performance; you won't get paid. It's not the issue or the answer. If you use updated Kirschenbaum Contracts TMyou are covered. The contracts contain a provision: "Should ALARM COMPANY be required by existing or hereafter enacted law to perform any service or furnish any material not specifically covered by the terms of this agreement Subscriber agrees to pay ALARM COMPANY for such service or material. The pricing to be paid by Subscriber in this agreement is based on current pricing by ALARM COMPANY's suppliers and vendors. In view of supply shortage and inflation, Subscriber agrees to pay any increase for equipment or services to ALARM COMPANY by ALARM COMPANY's suppliers and vendors in connection with equipment and services to be provided by ALARM COMPANY to Subscriber." We don't mention tariffs and I don't think we need to. It could of course be included specifically. If you aren't using Kirschenbaum Contracts TM or not using updated contracts I urge you to get them without delay. They are constantly being updated to keep pace with technology, changes in custom, practice and laws. K&K is involved in contracts daily. Time to start using the most popular contracts in the industry and start getting advice from the most experienced attorneys in the industry; attorneys that understand your issues and have the answers or will get them without delay or fanfare. ******************** 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. *********************** WEBINARS: https://www.kirschenbaumesq.com/page/alarm-webinars *********************** ALARM ARTICLES: You can always read our Articles on our website at www.kirschenbaumesq.com/page/alarm-articles updated daily ******************** Wondering how much your alarm company is worth? Click here: https://www.kirschenbaumesq.com/page/what-is-my-alarm-company-worth *********************** THE ALARM EXCHANGE - the alarm industries leading classified and business exchange - updated daily ************************* PODCASTS: https://podcasts.apple.com/us/podcast/ken-kirschenbaum-presents/id1794851477 ************************* 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
