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When should you cancel monitoring on delinquent account / Register today for diligence webinar
September 8, 2022
When should you cancel monitoring on delinquent account
          In January we signed contracts with three hotels, reprogrammed DACTs for central office and put on line, have been doing service and repair.  The hotels are being used to house people being released from prison through a program. Last month they said they were having problems with the program and were ending the contract, we informed them that it is a 10 year contract and that we would try to work with them but email communications stopped, a few weeks later so did the central office signals.  Daily tests fail, CS is NOT getting signals.
          We will be sending these accounts to your office for collection, today's question is, should we cancel the central office accounts or keep them active, will it impact the collection and recovery of whatever we can get from them?  
  Thank you,
          If communication has been terminated by the subscriber there is no reason to leave the account active at the central station.
          There are times when it’s best to continue monitoring even after you determine that the subscriber is in default and you are going to pursue collection on the contract [which you should if it makes sense].  Keep in mind that the time frame for commencing a collection proceeding with K&K is only a week or so, so continuing monitoring should not be costly for that time. 
          Continuing monitoring is particularly helpful when the subscriber is complaining that the alarm isn’t working.  Showing central station activity report with alarm activity is potent evidence of a working system, or at least one that is communicating with the central station, or in failure that is reported by the central station.
          Canceling monitoring may make it more difficult to reinstate the subscriber if that’s a possibility.  Restoring monitoring may involve cost, time and effort.    Also terminated monitoring may push the subscriber to find another dealer to monitor the account.  Once the arbitration is commenced we will be in a better position to determine if there is any hope of reinstatement or what defenses the subscriber concocts to justify its breach of the contract.  You won’t have to continue monitoring throughout the collection case.
          Keep in mind that terminating monitoring may require notice to the AHJ.

Registration for Sept 13, 2022 webinar on performing due diligence
          We’ve all heard the terminology, due diligence, in connection with a transaction to buy alarm accounts, but what due diligence actually consists of and how you get it done is not as familiar to everyone. In fact, due diligence can run the gamut from a cursory review of records to a comprehensive analysis that comes close to [and sometimes exceeds] a forensic financial audit.  Who you can and should engage for due diligence can also be an elusive choice. 
          Jim Wooster, Jr., of AFS [Alarm Financial Services], a lender to the alarm industry collateralized by alarm accounts, is opening a new service to perform Due Diligence.  I asked Jim to do a webinar to introduce his new Due Diligence service and it will be presented on September 13, 2022 at noon ET.  See you then.
Webinar:  Due Diligence in alarm industry on buy-sell or loan transaction
When:  September 13, 2022  12PM  ET
Topic:  Due diligence; what it means, what it involves, how it's performed and who  you can get to do it
Presented by:  Jim Wooster, Jr., President of Alarm Financial Services, Inc 
Hosted by:  Ken Kirschenbaum,Esq
Who should attend:  Alarm company owners, CFO, buyers and sellers

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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