What is the effective date of the Afuri Ramen Dumpling agreement?
Afuri_Ramen_Dumpling Franchise · 2024 FDDAnswer from 2024 FDD Document
reement may be executed simultaneously in counterparts, each of which will be deemed an original, but all of which, together, will constitute one and the same instrument.
Execution of this Agreement via DocuSign or any other reputable e-signature service will constitute valid and enforceable execution.
L. Definition of "Including." In this Agreement, including means "including but not limited to" unless expressly stated otherwise.
[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.
Source: Item 23 — Receipts (FDD pages 50–189)
What This Means (2024 FDD)
According to the 2024 Afuri Ramen Dumpling Franchise Disclosure Document, the effective date of the franchise agreement is determined by when the last party involved signs the agreement. This means the agreement does not become active until all required signatures are obtained. This is a fairly standard practice in franchising and contract law.
For a prospective Afuri Ramen Dumpling franchisee, this clause emphasizes the importance of understanding who the parties to the agreement are and ensuring that all required signatures are properly executed. The FDD specifies that if the franchisee is a corporation, limited liability company, or other business entity, the agreement must be signed by an authorized company officer or owner. Additionally, all officers and owners of the company must sign the agreement as individuals.
Afuri Ramen Dumpling also uses electronic signature services like DocuSign, which they consider a valid and enforceable method of executing the agreement. This can streamline the signing process, but franchisees should still carefully review all documents before signing electronically to ensure they understand the terms and conditions. Franchisees should also retain a copy of the fully executed agreement for their records.