What is the required acknowledgement from the franchisee regarding the independent investigation conducted for the Afuri Ramen Dumpling franchise?
Afuri_Ramen_Dumpling Franchise · 2024 FDDAnswer from 2024 FDD Document
All individuals who will sign the franchise agreement must sign this acknowledgment. If the franchise agreement will also be executed by a corporation or limited liability company, an officer or owner authorized to receive this disclosure document on behalf of the corporation or limited liability company must execute this acknowledgment. If the franchise agreement will be executed by a partnership, then all general partners must execute this acknowledgment as general partners and as individuals. KEEP THIS COPY FOR YOUR RECORDS.
RECEIPT AFURI FRANCHISE INC.
This franchise disclosure document summarizes certain provisions of the franchise agreement and other information in plain language. Read this disclosure document and all agreements carefully. If AFURI FRANCHISE INC. offers you a franchise, it must provide this franchise disclosure document to you 14 calendar-days before you sign a binding agreement with, or make a payment to, the franchisor or an affiliate in connection with the proposed franchise sale. New York and Rhode Island law require delivery at the earlier of the first personal meeting or at least 10 business days, and Michigan and Wisconsin law require delivery at least 10 business days, before signing/paying.
If AFURI FRANCHISE INC. does not deliver this franchise disclosure document on time or if it contains a false or misleadi
Source: Item 23 — Receipts (FDD pages 50–189)
What This Means (2024 FDD)
According to the 2024 Afuri Ramen Dumpling Franchise Disclosure Document, all individuals signing the franchise agreement must sign an acknowledgment. If the agreement is executed by a corporation or LLC, an authorized officer or owner must sign on its behalf. For partnerships, all general partners must sign both as partners and as individuals.
The FDD emphasizes that this document summarizes the franchise agreement and other information in plain language and advises potential franchisees to read it and all related agreements carefully. Afuri Ramen Dumpling is obligated to provide the FDD to prospective franchisees at least 14 calendar days before any binding agreement is signed or any payment is made to the franchisor or an affiliate.
Certain states, such as New York, Rhode Island, Michigan, and Wisconsin, have specific laws requiring delivery of the FDD at least 10 business days before signing or paying, with New York and Rhode Island requiring delivery at the earlier of the first personal meeting. The document also includes a warning that if Afuri Ramen Dumpling fails to deliver the FDD on time or if it contains false or misleading information, a violation of federal and state law may occur.