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 ****************************** Best Practice suggestion / ISC West group and private meetings February 21, 2023 ************************ Best Practice suggestion ************************ Here’s the suggestion: Be sure your invoices to the subscriber for RMR services references the contract, at least by date if not by name of the contract. For example, you have a Residential All in One dated January 10, 2022. You send invoices for monitoring periodically. So the invoice might way Monitoring Charge, $40 per month for 3 months, $120.00 due. The invoice form should state, under the word Invoice or somewhere else on that invoice, that the invoice is pursuant to written Residential Alarm contract dated January 10, 2022. Same for commercial customers. Why? K&K does a lot of collection work, particularly for the alarm industry – enforcement of the K&K agreements. Too often we are met with “Never signed the contract and the signature on the contract is forged”. Our first response is, “well, why did you pay the invoices for monitoring etc for 8 months?” And here is the rub, the response is “they were monitoring and they sent a bill for it so I paid, but I never signed any contract and I didn’t agree to pay for any amount of time.” It’s not a totally flawed argument and the sending of the invoices is likely not going to save the day when the contract execution is challenged. Referencing the contract on the invoice would, in my opinion, be very persuasive establishing the existence of the contract. Keep in mind that the scenario above is about a collection, which even if substantial will pale in comparison to a claim by the subscriber that there was a loss, alarm didn’t work, monitoring and service had been paid for and the alarm company is responsible, and, by the way, that All in One contract with all the fancy protective provisions was never signed, so shove it. Most subscribers own up to their signature and admit they signed the contract. Many are ingenious in their arguments why the agreement shouldn’t be enforced but at least they aren’t claiming fraud, deceptive business practice and more. I stop short suggesting that the contracts be executed before a notary [like a deed to real property] or witnessed [like a Last Will and testament or a Marriage Certificate] but that alarm contract may end up being very important to you and it’s enforcement essential to your continued financial well-being. Change your invoice form, it’s pretty simple. ********************* ISC West group and private meetings ********************** It’s time to prepare for ISC West at end of March. I am going to schedule group discussion meetings and private meetings. To reserve a spot at a group or private meeting please contact Stacy Spector,Esq., K&K’s Concierge Program coordinator [you don’t have to be a Concierge Client to reserve a spot]. Topics, private meetings and schedule are TBD. I will be available for private meetings and consultation. I will also coordinate and attend, if you like, private meetings with some of those who will be participating in group discussion meetings. Anyone who wants to lead a group discussion or have ideas for a discussion should contact me to be included in the schedule. The following are some of the group meetings I am planning [and will coordinate private meetings with these industry experts] * What buyers look for and how they evaluate your business. Meet one of the most active buyers of central stations, alarm companies and alarm accounts paying the highest multiples. * How lenders view your company and decide on financing your business or your acquisition. Meet one of the most active lenders in the alarm industry * How the value of your alarm RMR is calculated and how non-RMR is calculated. Meet one of the most knowledgeable tax and business consultants in the alarm industry * What you should expect from your central station and what you can expect at the top central station in the business. * Employee Retention Credit: meet with tax expert to discuss if you’re eligible * Alarm contracts: which ones you need and which ones you should have. Group or private meeting with Ken Kirschenbaum * Buy-Sell deals: Thinking about or ready to sell? Meet with Ken Kirschenbaum to discuss best ways to increase value and get ready to sell or buy. * AIN buying group. Meet with Stan Matysiak in group or privately, time well spent ********************* 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
