What must the individual certify regarding the All States M.E.D. agreement?
All_States_M_E_D Franchise · 2024 FDDAnswer from 2024 FDD Document
stration: California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington and Wisconsin.
This document is effective and may be used in the following states, where the document is filed, registered or exempt from registration, as of the Effective Date stated below:
| State | Effective Date |
|---|---|
| California | October 3, 2023 |
| Illinois | October 30, 2023 |
| New York | November 16, 2023 |
Other states may require registration, filing, or exemption of a franchise under other laws, such as those that regulate the offer and sale of business opportunities or seller-assisted marketing plans.
EXHIBIT K TO THE DISCLOSURE DOCUMENT RECEIPT
This Disclosure Document summarizes certain provisions of the Franchise Agreement and other information in plain language. Read this Disclosure Document and all agreements carefully.
If All States M.E.D. Franchising, LLC offers you a franchise, it must provide this 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.
Iowa requires that we give you this Disclosure Document at the earlier of the first personal meeting or 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.
Michigan requires that we give you this Disclosure Document at least 10 business days before the execution of any binding franchise or other agreement or the payment of any consideration, whichever occurs first.
Source: Item 23 — RECEIPTS (FDD pages 44–174)
What This Means (2024 FDD)
According to the 2024 All States M.E.D. Franchise Disclosure Document, the receipt included as Exhibit K summarizes key aspects of the Franchise Agreement and other relevant information in plain language. The document emphasizes the importance of carefully reading both the Disclosure Document and all associated agreements.
All States M.E.D. is obligated to provide the Disclosure Document to the prospective franchisee at least 14 calendar days before any binding agreement is signed or any payment is made to All States M.E.D. or its affiliates related to the franchise sale. Specific states like Iowa, Michigan, and New York have their own regulations regarding the timing of Disclosure Document delivery, with requirements ranging from 10 business days to 14 calendar days before signing or payment, or at the first personal meeting, whichever comes first.
The document also advises that if All States M.E.D. fails to deliver the Disclosure Document on time, or if the document contains false, misleading, or omits material information, it could be a violation of federal and state laws. Such violations should be reported to the Federal Trade Commission and the State Administrator listed in Exhibit A. The receipt requires the recipient to sign and print their name, date it, and return a copy to All States M.E.D., acknowledging they have received the disclosure.