Can the Advanced Mobile Iv And Amiv agreement be executed in counterparts?
Advanced_Mobile_Iv_And_Amiv Franchise · 2023 FDDAnswer from 2023 FDD Document
- 9.11 Execution in Counterparts and Our Acceptance. This Agreement will be binding upon you at the time you sign it and deliver it to us. This Agreement will not be binding upon us until we accept it in writing by one of our principal officers at our home office. If we do not accept it within 60 days, this Agreement will no longer be binding upon you. This Agreement may be executed in any number of counterparts, each of which, when so executed and delivered, will constitute an original. Delivery of executed signature pages of this Agreement by facsimile or digital transmission will constitute effective and binding execution and delivery of this Agreement.
Source: Item 23 — RECEIPTS (FDD pages 54–202)
What This Means (2023 FDD)
According to the 2023 Advanced Mobile Iv And Amiv Franchise Disclosure Document, the franchise agreement can be executed in counterparts. This means that the agreement does not need to be signed on one single document. Instead, each party can sign a separate copy of the same agreement, and all the signed copies together will constitute a fully executed agreement.
Advanced Mobile Iv And Amiv states that the agreement may be executed in any number of counterparts, and each executed and delivered copy will be considered an original. Furthermore, Advanced Mobile Iv And Amiv specifies that delivering executed signature pages via facsimile or digital transmission is considered effective and binding execution and delivery of the agreement.
This flexibility is fairly common in franchise agreements and modern business practices, as it allows for easier and faster execution of agreements, especially when parties are geographically separated. Franchisees can sign and transmit their signature pages without needing to physically mail the entire document, streamlining the process.