Does the All States M.E.D. Franchise Agreement include a General Release as part of its schedules?
All_States_M_E_D Franchise · 2024 FDDAnswer from 2024 FDD Document
Schedule 1-General Release
Source: Item 22 โ CONTRACTS (FDD page 44)
What This Means (2024 FDD)
According to the 2024 All States M.E.D. Franchise Disclosure Document, the Franchise Agreement includes a General Release as part of its schedules. Specifically, Schedule 1 of the Franchise Agreement is designated as the "General Release".
Furthermore, the FDD indicates that upon the transfer of a franchise, both the franchisee and the prospective transferee are required to execute a general release. This release, in a form similar to Schedule 1, covers any and all claims against All States M.E.D., including its officers, directors, shareholders, managers, members, partners, owners, employees, and agents. The release extends to claims arising under federal, state, or local laws, rules, or ordinances, and any other matters related to the termination or transfer of the franchise.
However, the North Dakota Addendum to the Franchise Agreement states that franchisees in North Dakota are not required to sign a general release upon renewal of the franchise agreement. Additionally, a passage regarding California Civil Code ยง1542 is included, where the releasor waives rights and benefits under that code. The release does not apply to liabilities arising under specific state franchise laws, including those in California, Indiana, Maryland, Michigan, Minnesota, North Dakota, Rhode Island, and Washington.