When must the Auntie Annes Franchisee Disclosure Acknowledgement be signed and dated?
Auntie_Annes Franchise · 2024 FDDAnswer from 2024 FDD Document
As you know, Auntie Anne's Franchisor SPV LLC ("we") and the franchisee identified below ("you") are preparing to enter into an Auntie Anne's® Franchise Agreement (the "Franchise Agreement") for the operation of an Auntie Anne's® franchise. The purpose of this Acknowledgement is to determine whether any statements or promises were made to you that we have not authorized or that may be untrue, inaccurate or misleading, to be certain that you have been properly represented in this transaction, and to be certain that you understand the limitations on claims you may make by reason of the purchase and operation of your franchise. You cannot sign or date this Acknowledgement the same day as the Receipt for the Franchise Disclosure Document, but you must sign and date it the same day you sign the Franchise Agreement and pay your franchise fee.
Please review each of the following statements carefully and initial by each providing your acknowledgement that the statement is accurate and true. If you find that a statement is not accurate and true, please cease signing this Acknowledgement and related documents and immediately e-mail Tim Goodman, Senior Vice President of Franchise Administration, at tgoodman@gotofoods.com and provide an explanation of why you believe such statement is not accurate and true.
Source: Item 22 — CONTRACTS (FDD page 106)
What This Means (2024 FDD)
According to Auntie Anne's 2024 Franchise Disclosure Document, the Franchisee Disclosure Acknowledgement cannot be signed or dated on the same day as the Receipt for the Franchise Disclosure Document. However, it must be signed and dated on the same day the franchisee signs the Franchise Agreement and pays the franchise fee. This acknowledgement is used to verify that no unauthorized statements or promises were made to the franchisee, to ensure proper representation, and to confirm understanding of claim limitations related to the franchise purchase and operation.
Prospective Auntie Anne's franchisees should note that if they find any statement in the Acknowledgement to be inaccurate or untrue, they must stop signing the document and immediately contact the Senior Vice President of Franchise Administration via email, providing an explanation for their concern. This step is crucial to address any discrepancies before proceeding with the franchise agreement.
It's also important to note that the requirement to sign the Acknowledgement does not apply to franchisees operating in or residing in Maryland. Additionally, the Hawaii Addendum to the Disclosure Document states that Exhibit I (Franchisee Disclosure Acknowledgment) to the Franchise Disclosure Document is deleted in its entirety for franchisees in Hawaii. These state-specific exceptions highlight the importance of reviewing any state addenda included in the FDD to understand how local laws may modify the standard franchise agreement terms.