For the Alloy Franchise Agreement, what constitutes an authorized Vice President who can execute modifications on behalf of Alloy?
Alloy Franchise · 2025 FDDAnswer from 2025 FDD Document
Any modification, consent, approval, authorization or waiver granted in this Agreement required to be effective by signature will be valid only if in writing executed by the Owner or, if on behalf of us, in writing executed by our President or one of our authorized Vice Presidents.
Source: Item 23 — RECEIPTS (FDD pages 69–245)
What This Means (2025 FDD)
According to Alloy's 2025 Franchise Disclosure Document, any modifications, consents, approvals, authorizations, or waivers to the Franchise Agreement must be in writing to be valid. If Alloy is granting the modification, it must be executed by Alloy's President or one of its authorized Vice Presidents.
This requirement ensures that any changes to the Franchise Agreement are officially sanctioned by Alloy and documented in writing. This protects both Alloy and the franchisee by preventing misunderstandings or disputes over verbal agreements or unauthorized modifications. It also clarifies who has the authority to make legally binding changes on behalf of Alloy.
For a prospective Alloy franchisee, this means that any promises or representations made by Alloy personnel that are not documented in writing and signed by the President or an authorized Vice President may not be enforceable. It is crucial to obtain written confirmation of any modifications or waivers to the Franchise Agreement to ensure they are valid and binding.