How must a waiver of any provision of the Afuri Ramen Dumpling franchise agreement be documented?
Afuri_Ramen_Dumpling Franchise · 2024 FDDAnswer from 2024 FDD Document
- 9.4 Waiver. A waiver of any breach of any provision, term, covenant, or condition of this Agreement will not be a waiver of any subsequent breach of the same or any other provision, term, covenant, or condition. Any waiver of any provision of this Agreement must be set forth in writing and signed by the party granting the waiver. Any waiver we grant will not prejudice any other rights we may have, and will be subject to our continuing review. We may revoke any waiver, in our sole discretion, at any time and for any reason, effective upon delivery to you of 10 days' prior written notice of revocation. Customs or practices of the parties in variance with the terms of this Agreement will not constitute a waiver of our right to demand exact compliance with the terms of this Agreement. Our delay, waiver, forbearance, or omission to exercise any power or rights arising out of any breach or default by you of any of the terms, provisions, or covenants of this Agreement, will not affect or impair our rights and will not constitute a waiver by us of any right or of the right to declare any subsequent breach or default. Our subsequent acceptance of any payment due to us will not be deemed to be a waiver by us of any preceding breach by you of any terms, covenants or conditions of this Agreement.
Source: Item 23 — Receipts (FDD pages 50–189)
What This Means (2024 FDD)
According to the 2024 Afuri Ramen Dumpling Franchise Disclosure Document, any waiver of a provision within the franchise agreement must be documented in a specific manner to be considered valid. The waiver must be set forth in writing. Additionally, the party granting the waiver must sign the written document for it to be considered valid.
Afuri Ramen Dumpling retains significant control over waivers it grants. Any waiver the company grants does not prevent them from enforcing other rights they possess under the agreement. Afuri Ramen Dumpling also has the right to review any waiver it grants on a continuing basis.
Furthermore, Afuri Ramen Dumpling can revoke any waiver they have granted. This revocation can occur at any time, for any reason, at the company's sole discretion. To revoke a waiver, Afuri Ramen Dumpling must provide the franchisee with 10 days' prior written notice of the revocation. This ensures the franchisee is informed of the change and can adjust accordingly.
This level of detail regarding waivers is typical in franchise agreements, as it protects the franchisor's interests while providing a clear process for franchisees. Prospective Afuri Ramen Dumpling franchisees should understand these conditions, as they dictate how any potential deviations from the standard agreement will be handled and the franchisor's right to alter or terminate such waivers.