Is there a deadline for completing the 'ACKNOWLEDGEMENT OF PRINCIPAL' section of the Alloy franchise agreement?
Alloy Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 23: RECEIPTS]
Schedule E to the Franchise Agreement
ACKNOWLEDGMENT ADDENDUM TO ALLOY FRANCHISE AGREEMENT
THIS ACKNOWLEDGEMENT ADDENDUM DOES NOT APPLY TO CANDIDATES LOCATED IN OR BUSINESSES TO BE LOCATED IN ANY OF THE FOLLOWING FRANCHISE REGISTRATION STATES: CA, HI, IL, IN, MD, MI, MN, NY, ND, RI, SD, VA, WA, WI.
As you know, you and we are entering into a Franchise Agreement for the operation of an ALLOY franchise. Please review each of the following questions carefully and provide honest responses to each question.
**Acknowledgments and Representations
Source: Item 23 — RECEIPTS (FDD pages 69–245)
What This Means (2025 FDD)
According to Alloy's 2025 Franchise Disclosure Document, Schedule E to the Franchise Agreement includes an "ACKNOWLEDGMENT ADDENDUM TO ALLOY FRANCHISE AGREEMENT". This addendum requires franchisees to review and honestly respond to a series of questions. However, this addendum specifically excludes candidates or businesses located in California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, and Wisconsin.
While the FDD mentions the Acknowledgement Addendum, it does not specify a particular deadline for its completion. Item 23 outlines a general timeline for submitting information, stating that a franchise application, financial statements, and other required information must be furnished at least 60 days prior to the earlier of (i) the date set forth in the Development Schedule by which you must execute a Franchise Agreement or (ii) the actual date on which the Franchise Agreement would be executed.
Prospective Alloy franchisees should confirm with the franchisor whether the Acknowledgement Addendum is required in their specific state and clarify the exact deadline for submitting the completed addendum to ensure compliance with the franchise agreement terms. It is important to note that failing to meet deadlines or provide accurate information could potentially impact the franchise approval or development schedule.