KEN KIRSCHENBAUM, ESQ
ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE
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Which contract for elevator monitoring / Comment on responding to claim / Using supplemental form  
September 1, 2020
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Which contract for elevator monitoring
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Ken
            Is it safe to use the Commercial Fire All in One for an elevator monitoring account?
 Thanks
Matt
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Response
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            I doubt that “safe” is the best criteria for selecting which contract to use for alarm services.  Terms like “appropriate”, “best to create equity”, “best for protection”.  If you hit a square peg hard enough and enough times, eventually it will squeeze into the round hole.  
            One of the Standard Form Agreements is the Elevator Monitoring Agreement.  Like every other agreement K&K offers this agreement was requested by a security company and is now widely used.  I think you’ll be “safe” using it, and at the same time get the best protection from claims and the most equity for your business.  Enough said?
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Comment on responding to claims from August 24, 2020
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Ken
            An 85,000 dollar claim will put you out of business?
Daniel J. Boyd
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Response
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            Depends on who “you “ is.  For some the answer is, yes.  Just about every alarm company understands it needs E&O coverage, so an $85K claim is going to be within policy limits, though there is going to be a deductible.  A deductible will not likely put any alarm company out of business; it’s probably between $1000 and $2500.  
            But even a claim covered by insurance can cause plenty of sleepless nights, be time consuming and aggravating.  A claim is definitely on the list of things you’d rather not experience and you wish on others [sorry couldn’t resist].  
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Using supplemental form
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Ken,
            On the Supplemental Riders for Residential and Commercial All in One agreements, what date goes where it says, “supplements the prior Agreement between parties dated____”
            Is it the date that Rider is executed or original agreement’s date?  There are no other areas for a date on the form.
Name withheld
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Response
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            You’re right.  We left the date for when the Supplemental Rider is signed off the form.  We will correct that immediately, though it’s not vital to the Supplemental Rider.
            The date you refer to in your question is the date of the original All in One agreement.  That agreement is being changed by the Supplemental Rider, usually to add additional equipment or services.  The Supplemental Rider is used after the All in One is fully executed, sort of a change order.
            For those not sure which form we are talking about, we provide the Supplemental Rider when you purchase the All in One agreement.  No extra charge for this form.  Same goes for the cancellation form for the residential contracts.  
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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
ken@kirschenbaumesq.com
www.KirschenbaumEsq.com