On the Aerus franchise agreement receipt, what date is being referred to as the 'Date of Execution'?
Aerus Franchise · 2025 FDDAnswer from 2025 FDD Document
[SIGNATURES ON FOLLOWING PAGE]
, 20 IN WITNESS WHEREOF, the parties have caused this Agreement to be executed on the dates set forth with their signatures below to be effective as of the day of COMPANY: AERUS FRANCHISING, LLC, a Delaware limited liability company By: Kevin Hickey, President Date of Execution: FRANCHISEE: , a By: Name: Date of Execution:
Source: Item 23 — Receipts (FDD pages 74–305)
What This Means (2025 FDD)
According to Aerus's 2025 Franchise Disclosure Document, the 'Date of Execution' refers to the date on which the parties, Aerus Franchising, LLC and the franchisee, formally sign and deliver the agreement, making it legally binding. This date is essential because it marks the commencement of the contractual obligations and rights for both parties.
The FDD excerpts show the 'Date of Execution' appearing in various agreements, such as the Software License Agreement, Consigned Products Security Agreement, and the Franchise Agreement itself. Each of these agreements requires signatures and dates to indicate when the agreement becomes effective. For instance, the Software License Agreement states that the parties execute and deliver the license as of the date set forth with their signatures, making it effective from that day forward.
For a prospective Aerus franchisee, understanding the 'Date of Execution' is crucial. It determines when their obligations under the franchise agreement begin, such as payment schedules, training requirements, and adherence to Aerus's operational standards. It also signifies when Aerus's obligations to provide support, territory rights, and brand usage commence. Therefore, franchisees should carefully review all agreements and ensure they understand the implications of this date before signing.