Wednesday, November 11, 2009

Check your expiration dates

It's not just food that has expiration dates. Check out these association expiration dates, so you don't learn them the hard way ....

1. Conference call dial-in numbers: Found out my "use anytime" dial in and passcodes expired when I didn't use for 6 months. Learned it when dialing in 2 minutes before everyone else. If you use the same conference call numbers all the time, find out if something makes it expire.

2. Batteries on smoke/carbon monoxide detectors: Change them as often as you'd change the ones at home.

3. Vendor contracts: Especially if you inherit contracts you didn't execute, might want to check all of them to see what makes them expire - a date, a change of ownership, an action .... (or what makes a price increase).

4. Lease agreements: If your copier or other equipment has a date where you have to notify to either purchase or a new term start - find out what that is. Your option to buy or cancel contracts might expire at a date you don't expect (i.e., well before the end of the term).

5. Certificates of Deposits: Financial institutions will alert you of maturity of a CD; along with the terms you presently have. If you allow it to roll-over it may not do it anywhere near the rate you initially had - and also may not renew at the highest rate they offer. You may have to ask to get a higher renewal interest rate. Be sure to check the maturity dates so you aren't renewed well below an interest rate amount you'd want.


Anonymous said...

Such good advice! Most is common sense, but is still a good reminder.

David M. Patt, CAE said...

Add discount coupons to your list. Always print an expiration date on them. Members (or former members) may want to use them years after they were expected to be out of circulation.