Is the Apricot Lane franchisee acknowledging that they have read the Franchise Disclosure Document?
Apricot_Lane Franchise · 2025 FDDAnswer from 2025 FDD Document
of operating the Franchised Business in conformity with FRANCHISOR's standards and specifications; and
WHEREAS, FRANCHISOR expressly disclaims the making of and FRANCHISEE acknowledges that it has not received nor relied upon any warranty or guaranty, express or implied, as to the revenues, profits or success of the business venture contemplated by this Agreement. FRANCHISEE acknowledges that it has read this Agreement and FRANCHISOR's Franchise Disclosure Document, and all exhibits thereto upon which it has exclusively relied, and that it has no knowledge of any representations by FRANCHISOR, or its officers, directors, shareholders, employees or agents that are contrary to the statements made in FRANCHISOR's Franchise Disclosure Document or to the terms
Source: Item 23 — RECEIPTS (FDD pages 51–222)
What This Means (2025 FDD)
According to the 2025 Apricot Lane Franchise Disclosure Document, the franchisee acknowledges having read the Franchise Disclosure Document (FDD). This acknowledgement is part of the agreement between the franchisor and franchisee. The franchisee also states that they are exclusively relying on the FDD and its exhibits.
This acknowledgement is significant because it confirms that the franchisee has been provided with and has reviewed critical information about the Apricot Lane franchise opportunity. This includes details about fees, obligations, and restrictions. By signing this acknowledgement, the franchisee confirms they are not relying on any external warranties or guarantees regarding potential revenues, profits, or the success of the business venture that contradict the FDD.
This clause protects Apricot Lane by establishing that the franchisee entered the agreement with a clear understanding of the terms and conditions outlined in the FDD. It reduces the potential for future disputes based on misunderstandings or claims of misinformation. The initial line provides a space for the franchisee to initial, further confirming their acknowledgement.
Prospective franchisees should carefully review the entire FDD and all its exhibits before signing the agreement. It is advisable to seek legal counsel to fully understand the implications of each clause, including the acknowledgement of having read and understood the FDD.