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 
****************************** 
How long to give “early termination” customer time to pay / ISC FREE Private Meetings scheduling now / send us email addresses
September 21,  2024
***************************
How long to give “early termination” customer time to pay
****************************
Ken
     What amount of time should we give a cancelling customer to pay the early termination fee? We feel 30 day typical is too much, since we should not be extending credit to a customer in breach, but we also want to be reasonable. Just curious what is best and standard practice?
Roman
*********************************
Response
********************************
        By early termination I assume you mean customer has asked to cancel, you have calculated what is owed to date and 80% of balance of contract.  Only a handful of states have a separate "Early Termination" clause and it's calculated same as described above.
      So how does early termination differ than a customer simply defaulting, stop paying?  If you have to pursue the customer for breach of contract you are going to be able to tack on legal fees.
      If a customer requests cancelation you should, in writing, let them know they can cancel as of end of month and must pay $???? by end of month, in which event your services and the contract will be terminated at end of month.  BTW, once you calculate what would be owed under the contract you can negotiate a lesser amount, but it needs to be exact amount and termination date needs to be time and date certain.
      If customer doesn't pay by end of month [or few days eariler if that is what you instruct the customer is required] you should not terminate services.  Day after end of month, send to K&K for collection.  Why delay? There is no reason, because this customer has already told you that they intend to cancel.  The K&K collection team is going to be able to negotiate a better settlement than you [assuming you have not been able to negotiate the final payment].  All you gain by waiting is that the customer moves, replaces the alarm, files bankruptcy, uses all available money to pay someone else, etc.  
      What about the added legal fees you will owe [1/3 of collected funds plus K&K out of pocket expenses] will be added on.  Even if K&K ultimately negotiates an amount that perhaps you could have gotten, K&K will actually get it, so no speculation if you were going to get it or not. The K&K collection team [lawyers and paralegals] is trained to get the most we can; the contingency fee encourages more effort and higher settlement.  Finally, K&K will have most likely already started collection procedures so we will be headed to arbitration or court quickly, which is usually the impetus for customers to settle.
      Contact K&K collection department directly by contacting Kathleen Lampert at 516 747 6700 319 or KLampert@Kirschenbaumesq.com
**************************
Help this forum grow - and thanks to those who have already responded
********************
          Thanks to those who have sent in lists.  How about you guys at the central stations, manufacturers, service providers and vendors????  If you are on The Alarm Exchange you should welcome exposure this forum provides.  Send in your lists.  Thanks
          This forum is, I believe, the largest distribution in the security and fire alarm, low voltage and electronic integration industries, and certainly the most read on a daily basis. 
          First, let me assure you that the K&K email list is used exclusively for distribution of the articles, which is distributed by two separate bulk mailing services, as many of you know because you get both emails daily.  Emails are sent every day to the alarm industry; there is no charge for the articles.  The classified section, The Alarm Exchange, which is also free, is updated daily as needed, and I believe it’s the largest and most active classifieds in the industry, visited by the most in the industry. K&K does not sell or share the email list with anyone, for any reason.  We retain only emails, no names or other information. It’s free; you can subscribe all the addresses you want and you can always unsubscribe, though you won’t be able to re-subscribe that address.  So your email is secure.
          Now here’s the ask.
          I’d like to make the forum even more available by increasing the distribution, so here’s the “ask” and sweetener added in:
          Send me emails of those in this industry, one email on each line, and we will add them to the list.  Whether it’s your association list, for vendors to the industry your alarm dealer list, employee list, central station list, send it to me pasted on your email or as WORD or XL attachment.  [this is not request for alarm customers list - the forum isn't for alarm customers]
          K&K will give you $100 credit against K&K contracts or Concierge Program for every 100 emails.  You can use the credit yourself or if an association raffle it off or use it for promotional purposes.  We will honor the credit to your “assignee”.  Thanks in advance for your efforts and assistance.
***************************
ISC East - private meetings -schedule now
*************************
       I'm considering going to ISC EAST if there is sufficient interest in private meetings during the day.  If you're interested in a private [yes, it's free] meeting please contact Stacy Spector,Esq at 516 747 6700 x 304 or SSpector@Kirschenbaumesq.com. Concierge Clients will have priority.  Thanks.
********************
K&K Holiday Party - Save the date:  December 12, 2024
********************
STANDARD FORMS  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.
***********************
ALARM ARTICLES:  You can always read our Articles on our website at ww.kirschenbaumesq.com/page/alarm-articles  updated daily             ********************
THE ALARM EXCHANGE - the alarm industries leading classified and business exchange - updated daily
*************************
Wondering how much your alarm company is worth?  
Click here:  https://www.kirschenbaumesq.com/page/what-is-my-alarm-company-worth
******************************
Getting on our Email List / Email 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.  You can read articles and order alarm contracts on our web site www.alarmcontracts.com
**************************
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