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Electronic Security Expo: Handling Contract Modification Risks

June 16, 2022 @ 8:00 am - 9:00 am


A fork can be used as a tool or a weapon. The same is true for your modified residential and commercial subscriber contracts, including new construction builder contracts. In every contract, risk management is quite broad in its overall scope and covers many varieties of potential risk factors. Some contract modifications are self-inflicted potential weapons, such as striking a limitation of liability clause, while others are more business-related tools, like changing the length of the contract. Regardless, whether the contract modification is linked to business or legal considerations, there is a cause and effect that conveys certain consequences for those actions that add to your risk factors. In this session, Timothy J. Pastore will discuss simple, practical, and useful information about contractual risk issues that you can use as a guideline, such as:

  • Understanding risk management before modifying contracts
  • What contract modification should never be done and why
  • Best contract practice processes for keeping you out of legal hot water
  • At what times you should consult with your insurance provider and/or attorney