What documents related to the Marks will an Afuri Ramen Dumpling franchisee be required to execute?
Afuri_Ramen_Dumpling Franchise · 2024 FDDAnswer from 2024 FDD Document
Among other things, we may require as a condition to our approval of your purchase of additional franchises (from our existing franchisees or affiliates, or from us) that you sign a general release in a form we prescribe, following applicable law, to release us from any claims you may have against us.
Execution of this Agreement via DocuSign or any other reputable e-signature service will constitute valid and enforceable execution.
[7. Effective Date. The effective date of this Agreement shall be the date the last party signs.] IN WITNESS WHEREOF, the parties have executed this Agreement. "Franchisor": Afuri Franchise Inc. By (Signature): "Franchisee": , an individual , an individual [ENTITY NAME] By (Signature): Instructions for signatures (above) for "Franchisee" and "Transferee": If you are a corporation, limited liability company or other business entity, then this Agreement should be signed by a company officer or owner authorized to sign on behalf of the company. Additionally, this Agreement must be signed by all officers and owners of the company as individuals.
Exhibit I to Afuri Franchise Disclosure Document
PERSONAL GUARANTY AGREEMENT
Each of the undersigned waives: (1) acceptance and notice of acceptance by the Franchisor of the foregoing undertakings; (2) notice of demand for payment of any indebtedness or nonperformance of any obligations guaranteed; (3) protest and notice of default to any party with respect to the indebtedness or nonperformance of any obligations guaranteed; (4) any right the undersigned may otherwise have to require that an action be brought against the Franchisee or any other person as a condition of liability.
Source: Item 23 — Receipts (FDD pages 50–189)
What This Means (2024 FDD)
According to Afuri Ramen Dumpling's 2024 Franchise Disclosure Document, as a condition to purchasing additional franchises, the franchisee may be required to sign a general release in a form prescribed by Afuri Ramen Dumpling, following applicable law, to release Afuri Ramen Dumpling from any claims against them.
Additionally, the franchisee will be required to execute the Franchise Agreement, and if the franchisee is a corporation, limited liability company, or other business entity, the agreement should be signed by a company officer or owner authorized to sign on behalf of the company. The agreement must also be signed by all officers and owners of the company as individuals.
Finally, the franchisee will be required to execute a Personal Guaranty Agreement. This agreement includes waiving acceptance and notice of acceptance by Afuri Ramen Dumpling, notice of demand for payment, protest and notice of default, and any right to require an action against the franchisee or any other person as a condition of liability.