Under what conditions can the Annex Brands franchise agreement be modified?
Annex_Brands Franchise · 2025 FDDAnswer from 2025 FDD Document
- I. ENTIRE AGREEMENT; MODIFICATION. This Agreement constitutes the entire understanding and agreement of the parties as to its subject matter, superseding all prior written or oral understandings and agreements of the parties concerning its subject matter, except the representations made to you in our Franchise Disclosure Document (including its exhibits and any updates or amendments). Except as otherwise specified in this Agreement, this Agreement may not be modified except in a written agreement of at least equal formality signed by the parties. No interpretation, change, termination or waiver of any provision of this Agreement, and no consent or approval hereunder, will be binding upon the other party or effective unless in writing signed by Franchisee and an authorized representative of Franchisor, except that a waiver needs to be signed only by the party waiving. The terms and conditions of this Agreement are binding on the parties, and on their heirs, executors, administrators, successors and assigns.
Source: Item 22 — Contracts (FDD pages 109–110)
What This Means (2025 FDD)
According to Annex Brands's 2025 Franchise Disclosure Document, the franchise agreement represents the complete understanding between both parties, superseding any prior agreements, whether written or oral. The agreement specifies that it can only be modified through a formal written agreement. This written agreement needs to be of equal formality to the original contract and must be signed by both the franchisee and an authorized representative of Annex Brands.
This requirement for a written modification ensures that any changes to the franchise agreement are clearly documented and agreed upon by both parties, reducing the potential for misunderstandings or disputes. It also protects both the franchisee and Annex Brands by providing a clear record of any agreed-upon changes.
Furthermore, the Annex Brands franchise agreement states that no interpretation, change, termination, or waiver of any provision is binding unless it is in writing and signed by both the franchisee and an authorized representative of Annex Brands. The only exception to this rule is that a waiver needs to be signed only by the party waiving the provision. This ensures that all key aspects of the agreement are formally addressed and documented to be considered valid.