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Records Management Tips from InfoStore: An Insiders Guide to Records Management Contracts

By Barbara Straczynski posted 03-14-2013 10:26 AM

  
Records and Information Management Contracts are complex and have many line item charges, costs and addendums that should be reviewed both before you sign a contract and audited from time to time on your existing contract. It is important your firm take these steps or you may not only find you pay more than you should, but also that your contract includes extraneous charges that make a change to a new vendor cost prohibitive as well as surcharges that make managing your budgets next to impossible.
 
Conducting a complete audit and review of your firms Records Management Contract:

•    Speak to a RIM professional to help you understand your firms Offsite Records Storage Contract(s) and the financial liabilities associated with them.
•    Establish and develop protocols to address any issues found during the review of your contract(s)
•    A full review should include: Original Contracts, Current Pricing Schedule(s) A or B as stated, Current Invoices (past 3-6 months) and any Amendments that were issued and or signed.

The Review would include but is not limited to the following items:

1.    Automatic Contract Renewals – Evergreen Clause.
2.    Minimum Storage quantities that are not considered reasonable. Some contracts have 80% clauses that make destruction hard to justify because of increased costs in storage.
3.    Automatic fuel charges without customer approval.
4.    Termination clauses and Fees that are not reasonable.  
5.    Long term storage agreements without 30 day cancellation clauses.
6.    Assignability of contracts without the customer’s approval.
7.    Exclusivity Clauses requiring customers to only use one vendor should not be allowed.
8.    Permanent Withdrawal fees charged on top of destruction and retrieval charges making changing vendors cost prohibitive.
9.    Guaranteed quantity of boxes to be made available on a daily basis should the customer elect to change vendors for any reason.

InfoStore Records Management
www.infostorerm.com
908-534-0364
InfoStore is a NJSBA member benefit provider. This tip for members is being shared as part of  NJSBA Member Appreciation Month, March 2013.
 
The New Jersey State Bar Association works to obtain discounts on a variety of products and services for NJSBA members. Members should fully evaluate each product or service to determine its suitability for the member's particular purpose. In some instances, the NJSBA may receive royalties on products and services purchased by members; however, the NJSBA makes no representations, warranties, endorsements or recommendations containing any of the products or services listed.

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