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New contract for new RMR opportunity:  Digital Sign, Display and Hosting / Default remedy
November 2, 2020
Webinar: informative webinar on Nov 4.  Sign up now

Title:  Importance of Sound Financial Management; How to make your company bankable
When:  November 4, 2020   Time:  12 PM  noon ET
Presented by:  Mitch Reitman
Hosted by:  Ken Kirschenbaum
Who should attend: owners, CFO, general managers
Register Here:
New contract for new RMR opportunity:  Digital Sign, Display and Hosting
            I was asked to draft a contract for digital sign and display service.  Since others may have an interest in providing this service the Agreement is now available on our website,  The contract is titled DIGITAL SIGN AND DISPLAY SALES, HOSTING AND SERVICE and it is in the Miscellaneous Contract category.
            The contract covers the sale and installation of a digital box and media player which are sold to the customer.  Customer supplies the TV or display screen.  There is an option for design creation for the display.
            Hosting the data for the digital display provides the opportunity to charge RMR.  You would offer the cloud based data for display and also the modification of the display on such frequency and charge as you and the customer agree.  
            Because this is a new contract we will waive our fee for requested modification, after you buy the contract.  This contract is offered at an introductory price, so if you’re interested in getting into this area get the contract now.
Default remedy
            I have your Residential All in One Security contract. I have a customer that switched alarm companies because he wanted someone local to him.  After sending him an invoice for he has sent me a check for only one month. He has 3 years left on his contract.
            He would like a buyout of the contract. Is there a percentage on your contract? If so I can’t find it. I told him 75% of the remaining balance.
            Can you please point me in the right direction/
Thank you,
Name withheld
            Your subscriber has breached the contract by failing to pay the invoice for 3 months.  I assume your payment option on the contract is “quarterly” so that 3 months needs to be paid in advance.  Additionally your subscriber has advised you he wants to terminate and has inquired about “buying out” the contract.  You suggested 75% and now want me to let you know if you’re “in the right direction”.  
            You’re close, but no cigar.  Look higher.  You’re entitled to 80% of the balance of the contract, and you’re entitled to 100% of whatever is owed past due at the time of the breach.  You will find this formula in the Legal Action paragraph along with your rights and remedy once your subscriber defaults.  
            Hotline to K&K’s Collection Department is your next step; you have better and more productive things to do than get into the collection business; let the professionals handle it.  Call or email Kathleen Lampert at 516 747 6700 x 319 or

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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