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 white list ken@kirschenbaumesq.com ****************************** Automatic renewal question / Comment on covid and valuation September 24, 2020 ******************* Automatic renewal question ******************* Ken I have some questions in regards to our monitoring contract which was written by your office. On page 2 of the “Standard Commercial Security/Service Agreement” paragraph 4 it says the agreement shall automatically renew for a like term, but we were wondering if there was a reason it could not be automatically renew for 1 year. On the “Standard Commercial Security Agreement” on page 2 paragraph 5 it states it will renew month to month, and we were wondering if it could also be automatically renewed to 1 year. Thank you, K ********************* Response ********************* The Commercial All in One [on contract it’s called Standard Commercial Security Agreement] has the same automatic renewal provisions as all Kirschenbaum Contracts ™. That automatic renewal is month to month. If the form you have before you has “renew for like term” or something else, then either you asked us to change it or you changed it yourself after we sent it to you. Month to month does not run afoul of any automatic renewal provisions we are aware of, so it should be enforced. I have previously advised whey month to month is recommended by me. If you are in a state with no law on automatic renewal then you are of course at liberty to use any renewal term you are comfortable with. ********************* Comment on covid and valuation from article on September 9, 2020 ********************* Ken, Victor Harding is correct about pricing of assets based on the volume of the assets. For example, if you buy one account or 50 and re-label each site with stickers and signs okay, but if you go out and re-label 500 or more accounts that overlay your existing account base that is much more powerful in brand support and recognition which should drive future sales. Size does make a difference. Bart A. Didden, President U.S.A. Central Station Alarm Corp. Port Chester, NY Milford, CT St. Paul, MN Pasco,WA 877-872-1266 ********************* Response ********************* There is no question that more accounts will likely fetch a higher multiple, though each deal stands on its own. Multiples are often figured based on intuition. Sure mathematical calculations are used, but gut feeling plays an important role. That’s why we see such variation in multiples. ******************** To order up to dateStandard 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. *********************** NOTICE: You can always read our Articles on our website at ww.kirschenbaumesq.com/page/alarm-articles *********************** THE ALARM EXCHANGE
This area is reserved for alarm classifieds, alarm company announcements, solicitations, offers, etc. There is no charge to post a listing here.Include your contact information, phone, email and web site. If you would like to submit a post, please send an email to ken@kirschenbaumesq.com. To create a reciprocal link to our website, click here. ************************************************ 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
