A quick contract audit does not require an elevator expert. It requires knowing where to look.

Here is a 15-minute checklist:

1. PRICE ESCALATION: Find the annual increase clause. Is it a fixed percentage or tied to CPI? Fixed 5% compounds faster than you think -- a $2,000/month contract becomes $3,257/month in 10 years.

2. CANCELLATION TERMS: Most contracts auto-renew with a 90-day written notice window. Miss it by a day and you are locked in for another year. Find your renewal date and put a calendar reminder 120 days before.

3. RESPONSE TIME: What does your contract guarantee for callback response? 'Reasonable time' means nothing. Look for specific hours (2-hour, 4-hour, 24-hour).

4. PARTS MARKUP: Some contracts allow the vendor to mark up parts 15-30% above list price. Others include parts at cost. This one clause can mean $5,000+ per year on an active building.

5. OVERTIME RATES: Callbacks after 5 PM or on weekends often bill at 1.5x or 2x. Check if your contract has an overtime cap.

Our Contract Scanner flags all five of these automatically. Try it free: https://app.elevatorblueprint.com/tools/contract-scanner

-- The ElevatorBlueprint Team

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