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How to Audit Your Elevator Contract

You get on the elevator several times a day without thinking much about it. But these days, elevators carry about 2 billion passengers every day in over 200 nations!

You have had the same company maintain and inspect your company elevators for years. But, when was the last time you went over the terms of your contract? Are you getting your money’s worth?

We put together a quick guide to teach you how to audit your elevator contract. Keep reading to find out everything you need to know before the next contract negotiations.

Double-Check Inspection Frequency and Quality

Building codes will determine how often you need to inspect your elevators. Make sure your contract addresses how often your elevators get inspected and make sure to verify the inspections are thorough. If not, you open your company to serious liability risk.

Review Maintenance Records

Keeping up with regular elevator maintenance keeps it from falling into disrepair and causing injury to someone. Make sure your maintenance company has fulfilled the agreed-upon schedule in your contract.

You’ll also want to keep track of maintenance duration and quality each time so you can compare and identify any issues. You don’t want your elevators out of service all the time because the maintenance company takes forever to do regular maintenance.

Check Out the Elevator Contract Terms and Conditions

One of the most important parts of the contract to audit is the terms and conditions. Make sure that you’re getting the elevator service and protection you need, but nothing extra. Your business needs change over time, so make sure to re-evaluate often.

If you have a hard time translating the legal jargon of the contract, consider asking an attorney to review it with you. You don’t want to miss something important because it’s worded confusingly.

Review Repair Responses

Whenever your elevator needs repairs, you should keep track of the interaction and the maintenance company’s response time. That way, you can see if there are any issues with slow response or elevator repair delays.

This may seem tedious and difficult for some companies to manage on top of all their regular business duties. Those businesses often hire a third-party company to audit your contract and keep track of interactions with the maintenance company.

Don’t Let Your Elevator Grind to a Halt

Keeping your elevator working and in good condition is a safety priority. Finding a quality company to keep up with the maintenance and inspection is crucial.

But, even if you love your current company, you should check out the contract and see if the company needs have changed. You could end up saving your company some money on the next contract!

We hope you enjoyed reading this article and that you learned all about how to audit your elevator contract. If you’re looking for helpful articles about business, technology, and much more, check out the rest of our blog today!

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