If a Franchisee executes a Development Agreement with Bang Cookies, which article of the Development Agreement is supplemented regarding enforcement and construction?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
- Article 18 of the Franchise Agreement and, if Franchisee executes a Development Agreement, Article 7 of the Development Agreement, under the heading "Enforcement and Construction," shall be supplemented by the addition of the following new subarticle 18.Z. to the Franchise Agreement and Article 7.24 of the Development Agreement:
Source: Item 23 — RECEIPTS (FDD pages 56–245)
What This Means (2024 FDD)
According to Bang Cookies's 2024 Franchise Disclosure Document, specifically the New York Franchise and Development Agreement Amendment, if a franchisee enters into a Development Agreement with Bang Cookies, Article 7 of that agreement, which is under the heading "Enforcement and Construction," will be supplemented. This supplement involves adding a new subarticle, Article 7.24, to the Development Agreement.
This amendment is made in recognition of the requirements of the New York General Business Law, Article 33, Sections 680 through 695, and the regulations promulgated thereunder. The added subarticle likely contains provisions related to the enforcement and interpretation of the Development Agreement within the legal framework of New York.
For a prospective Bang Cookies franchisee in New York, this means that the terms of the Development Agreement regarding enforcement and construction are subject to specific stipulations under New York law. It is important to carefully review Article 7.24 to understand the full scope of these stipulations and how they may affect the franchisee's rights and obligations.