Is the 360 Painting General Release effective immediately upon signing?
360_Painting Franchise · 2025 FDDAnswer from 2025 FDD Document
| This General Release is made effective this | . In consideration for the grant by |
|---|---|
| 360 Painting, LLC, a Delaware limited liability company, to the undersigned of certain rights in connection | |
| with the operation of a 360 Painting Business and/or the transfer, termination or renewal thereof, and for | |
| other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the | |
| undersigned, individually and collectively, hereby unconditionally release, discharge, and acquit | |
| Franchisor, its past and present subsidiaries and affiliates, and its and their shareholders, owners, directors, | |
| officers, managers, members, partners, employees, agents, representatives, successors and assigns, from | |
| any and all liabilities, damages, claims, demands, costs, expenses, debts, indemnities, suits, disputes, | |
| controversies, actions and causes of action of any kind whatsoever, whether known or unknown, fixed or | |
| contingent, regarding or arising out of any | prior or existing franchise relationship, development agreement, |
| franchise agreement or any other agreement executed by any of the undersigned and 360 Painting, LLC (or | |
| any subsidiary or affiliate of 360 Painting, LLC), any 360 Painting Business (whether currently or | |
| previously owned or operated by the undersigned or any of them), or any other prior or existing business | |
| relationship between any of the undersigned and 360 Painting, LLC (or any subsidiary or affiliate of 360 | |
| Painting, LLC), which the undersigned or any of them individually or collectively has asserted, may have | |
| asserted or could have asserted against 360 Painting, LLC (or any of the aforementioned related parties) at | |
| any time up to the date of this General Release, including specifically, without limitation, claims arising | |
| from contract, written or oral communications, alleged misrepresentations, and acts of negligence, whether | |
| active or passive. This General Release shall survive the assignment or termination of any of the franchise | |
| agreements or other documents entered into by and between 360 Painting, LLC and any of the undersigned. | |
| This General Release is not intended as a waiver of those rights of the undersigned which cannot be waived | |
| under applicable state franchise laws. This General Release shall be governed by and construed in | |
| accordance with the laws of the state in which Franchisor maintains its principal place of business at the | |
| time any dispute resolution proceeding is commenced by either party without regard to its conflicts of law | |
| provisions. | |
| WITNESS: | By: Name: |
| Title: , Individually , Individually |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 56)
What This Means (2025 FDD)
According to the 2025 FDD, the General Release for 360 Painting is made effective upon signing. The franchisee, in exchange for rights granted by 360 Painting, releases the franchisor from any liabilities, damages, claims, and demands related to the franchise relationship. This release covers any prior or existing agreements between the franchisee and 360 Painting.
This General Release encompasses all claims, whether known or unknown, that the franchisee may have against 360 Painting up to the date of the release. It specifically includes claims arising from contracts, communications, alleged misrepresentations, and acts of negligence. The release survives any assignment or termination of franchise agreements.
However, the General Release does not waive rights that cannot be waived under state franchise laws. The agreement is governed by the laws of the state where 360 Painting maintains its principal place of business. Prospective franchisees should carefully review this General Release with legal counsel to understand its implications and ensure their rights are protected.