Does the Afuri Ramen Dumpling Franchise Agreement include a clause stating that time is of the essence?
Afuri_Ramen_Dumpling Franchise · 2024 FDDAnswer from 2024 FDD Document
Time is of the essence of this Development Schedule. For the avoidance of doubt, the Development Schedule set forth above is in lieu of the opening and mandatory training deadlines set forth in the Franchise Agreements contemporaneously executed with this Addendum.
In the event that you do not comply with the above Franchise opening and continuous operation requirements, we will have the right to terminate any of your franchise agreements representing franchises that have not yet opened for business. Any failure to commence operation caused by a war or civil disturbance, a natural disaster, a labor dispute, shortages or other events beyond your reasonable control (not including financial circumstances) will be excused for a period of time that we deem reasonable under the circumstances.
Source: Item 23 — Receipts (FDD pages 50–189)
What This Means (2024 FDD)
According to the 2024 Afuri Ramen Dumpling Franchise Disclosure Document, the Development Schedule includes a clause stating that time is of the essence.
This means that the dates and deadlines outlined in the Development Schedule are critical and must be strictly adhered to by the franchisee. The Development Schedule is in place of the opening and mandatory training deadlines set forth in the Franchise Agreements.
Afuri Ramen Dumpling has the right to terminate any franchise agreements for locations that have not yet opened if the franchisee fails to meet the opening and continuous operation requirements. However, the FDD notes that failures to commence operation caused by events beyond the franchisee's reasonable control, such as war, natural disasters, or labor disputes (but not including financial circumstances), will be excused for a reasonable period of time determined by Afuri Ramen Dumpling.