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 ****************************** More on Indemnity issues / which contract for combination fire alarm-burglar alarm April 3, 2023 ******************************** More on Indemnity issues from article on March 25, 2023 ******************************** Ken Good article on indemnity issues. You should do follow up article on caps and baskets. Jennifer Kirschenbaum, Esq. Jennifer@Kirschenbaumesq.com Kirschenbaum & Kirschenbaum, P.C. ******************************** Response ******************************* The Indemnity article is a must read for anyone thinking about a buy sell agreement. It’s enough that you understand that the indemnity issues are essential provisions in the buy sell agreements and, quite frankly, it’s a bit late to learn these issues when the pen is literally in your hand. Cap on liability is exactly how it sounds, a limit of exposure. A cap can be imposed on any of the categories referred to in the March 25, 2023 article. The basket is another negotiable issue whereby the indemnity doesn’t come into play until a threshold is reached. These are negotiable issues so it depends on various factors, one certainly being the familiarity of how the cap and basket can be applied and worded. Keep in mind that these issues are not so routine as to be considered “customary”, but rather carefully thought out and negotiated liability issues. ******************************* which contract for combination fire alarm/burglar alarm system ******************************* Ken Which contract should be sent out for a combination fire alarm/burglar alarm system? SL ************************************ Response ************************************ I prefer that you use the Commercial All in One for the security systems and equipment and the Fire All in One for the commercial fire alarm system. If the two systems share a single control panel then you would indicate in the security contract [the Commercial All in One] that the panel is shared with and described in the Fire All in One. There is a single contract that you can use for commercial security and fire. It’s the Fire All in One with Security Rider. For residential accounts the Residential All in One covers both security and fire alarms. ********************************* 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. *********************** ALARM ARTICLES: You can always read our Articles on our website at www.kirschenbaumesq.com/page/alarm-articles updated daily ************************* THE ALARM EXCHANGE - the alarm industries leading classified and business exchange - updated daily. https://www.kirschenbaumesq.com/page/alarm-exchange ************************* 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 / 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
