Who is considered the Franchisor in the General Release Agreement for Afuri Ramen Dumpling?
Afuri_Ramen_Dumpling Franchise · 2024 FDDAnswer from 2024 FDD Document
| This General Release Agreement ("Agreement") is made this day of, 20 It is among Afuri |
|---|
| Franchise Inc. |
| ("Franchisor"), and (jointly and severally "Franchisee") |
| and and (jointly and severally "Transferee"). |
Source: Item 23 — Receipts (FDD pages 50–189)
What This Means (2024 FDD)
According to Afuri Ramen Dumpling's 2024 Franchise Disclosure Document, the franchisor in the General Release Agreement is Afuri Franchise Inc. The agreement is made between Afuri Franchise Inc., the franchisee, and the transferee.
This agreement is used when a franchisee is purchasing additional franchises, either from existing franchisees, affiliates, or directly from Afuri Ramen Dumpling. As a condition of approval for these purchases, Afuri Ramen Dumpling may require the franchisee to sign this general release.
The purpose of the general release is to protect Afuri Ramen Dumpling from any potential claims the franchisee may have against them. This is a common practice in franchising to ensure that both parties are clear on their rights and responsibilities, especially when changes occur within the franchise system, such as the transfer of ownership or the granting of additional franchises.