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 ********************** Can you change term of contract / CS webinars continue next week October 21, 2023 ************************ SEE WEBINAR REGISTRATION BELOW – REGISTER NOW ******************************** Can you change term of contract ******************************** Ken I just noticed the terms of the commercial agreement are for ten years by default. I already loaded it into my electronic template. Is it acceptable to edit the contract for a month to month commercial subscriber like this? Andrew D ***************************** Response ***************************** The Standard Form Agreements come printed with a 5 year term of residential and 10 year term for commercial. You can change the term in the printed form or you can change it by hand when signing up a subscriber. Many provisions in the Standard Form Agreements are “business” issues, and while I may think they are “best practices” you and others may not; so change them. The length of the contract term is one of the business terms you should change if you want to. Once you buy the Kirschenbaum Contracts™ you can make any change you want, though I think you should be cautious. Most of the contract wording is legal wording and there for a very specific purpose. Changing a single word could negate or emasculate the provision. Any change to a legal provision will reduce the contracts effectiveness to provide the intended contractual protection you need. I keep inviting you to join the Concierge Program. The Concierge Program opens you to new opportunity to review and negotiate changes in the contracts getting the legal advice that is advisable. Hopefully not sounding self-serving, I can’t see how you own an alarm business without signing up for the Concierge Program unless you have in-house attorneys or an attorney who is expert in the alarm industry on speed dial and actually picks up your call in timely manner. As far as month to month contracts, well they are legal, but will very likely reduce your equity in the business. Bluntly, month to month contracts are worth less, will be valued with a lower multiple, than contracts with a longer term, even a year. It’s interesting because if you have longer term contracts, say 3, 5 or 10 years, that are in renewal on month to month, those month to month contracts will not likely reduce your equity; will not be valued with lower multiple. It might be that subscribers with longer term contracts are expected [hope may be better word] to continue on automatic renewal indefinitely, while an original month to month customer may have far less expectation because that customer’s frame of mind is that the contract is always cancelable at will any time. Nevertheless, you can make any change you want, especially when it comes to the business decisions. ************************* ALL WEBINARS WILL BE RECORDED AND ACCESSIBLE ON K&K WEBSITE https://www.kirschenbaumesq.com/page/alarm-webinars Don't miss out on live Q&A and your chance to be heard *********************** central station webinars ************************ If you haven’t signed up for the webinars you’re making a mistake. The live presentations offer you the opportunity to ask your questions and get answers. You can join on any device including your office computer or your smart phone, so even if in the field or driving you can join and even participate. If you miss the live webinar, no worry. It should be posted on the K&K Website for alarm webinars within a few days of the live presentation; go here to check: https://www.kirschenbaumesq.com/page/alarm-webinars *************************** Central Stations series: Why You Should Be Monitored By Our CS Hear from the leading central stations and “Why you should be monitored by” that central station. The topic of remote operator monitoring from outside the central station facility and the dynamics that issue presents is sure to come up. ************************ NEXT WEBINARS October 24, 2023 noon ET, National Monitoring Center Registration Link: https://attendee.gotowebinar.com/register/106284724856601695
October 25, 2023 noon ET, Dynamark Monitoring Registration Link: https://attendee.gotowebinar.com/register/5050152997423183449
October 31, 2023 noon ET, Rapid Response Monitoring Center Registration Link: https://register.gotowebinar.com/register/2959829660260960857 ****************************** 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
