Can the Annex Brands agreement be executed in counterparts?
Annex_Brands Franchise · 2025 FDDAnswer from 2025 FDD Document
This Agreement may be executed in counterparts, each of which will be deemed an original and all of which together will constitute 1 document. Emailed or other electronic signatures of the parties will be deemed to constitute original signatures, and emailed or other electronic copies hereof will be deemed to constitute duplicate original counterparts.
Source: Item 22 — Contracts (FDD pages 109–110)
What This Means (2025 FDD)
According to Annex Brands' 2025 Franchise Disclosure Document, the franchise agreement can be executed in counterparts. This means that the agreement does not require all parties to sign the same physical document. Instead, each party can sign a separate copy of the agreement, and these separate copies, or 'counterparts,' are then treated as a single, binding document.
Annex Brands specifies that each counterpart is considered an original, and all counterparts together constitute one complete agreement. This provides flexibility in the signing process, especially when the parties are geographically separated. It also allows for quicker execution of the agreement, as signatures can be obtained independently and simultaneously.
Furthermore, Annex Brands states that emailed or other electronic signatures are considered original signatures, and electronic copies are considered duplicate original counterparts. This embraces modern technology and further streamlines the signing process, reducing the need for physical documents and traditional mail. This practice is becoming increasingly common in franchising and business transactions in general, as it offers convenience and efficiency while maintaining legal validity.