Besides the Baya Bar Disclosure Document, what other representations of performance are acknowledged?
Baya_Bar Franchise · 2024 FDDAnswer from 2024 FDD Document
Y TO ANY CLAIMS ARISING FROM REPRESENTATIONS MADE BY FRANCHISOR IN FRANCHISOR'S FRANCHISE DISCLOSURE DOCUMENT RECEIVED BY FRANCHISEE.
| | | Initial | |--------------------------|-----------------|---------| | Acknowledged this day of | | | | PRINCIPAL: | FRANCHISEE: | | | Signature | By: | | | Name: | Name: Title: | |
EXHIBIT H-2
DEVELOPER ACKNOWLEDGEMENT STATEMENT
Developer hereby acknowledges the following:
- Developer has conducted an independent investigation of all aspects relating to the financial, operational and other aspects of the business of developing the Baya Bar outlets contemplated hereunder. Developer further acknowledges that, except as may be set forth in Franchisor's Disclosure Document, no representations of performance (financial or otherwise) for the Baya Bar outlets to be developed hereunder has been made to Developer by Franchisor and Developer hereby waives any claim against Franchisor for any business failure Developer may experience as a developer under this Agreement.
_____ Initial
- Developer agrees that no claims of success or failure have been made to him or her prior to signing this Agreement and that he/she understands all the terms and conditions of this Agreement. Developer further acknowledges that this Agreement contains all oral and written agreements, representations and arrangements between the parties hereto, and any rights which the respective parties hereto may have had under any other previous contracts are hereby cancelled and terminated, and that this Agreement cannot be changed or terminated orally; provided, however, nothing in this Multi-Unit Development Agreement or in any related agreement is intended to disclaim the representations made to Developer in Franchisor's Franchise Disclosure Document.
_____ Initial
- Developer has no knowledge of any representations by Franchisor or its officers, directors, shareholders, employees, sales representatives, agents or servants, about the business contemplated by this Agreement that are contrary to the terms of this Agreement or the documents incorporated herein. Developer acknowledges that no representations or warranties are made or implied, except as specifically set forth herein. Developer represents, as an inducement to Franchisor's entry into this Agreement, that Developer has made no misrepresentations in obtaining this Agreement.
_____ Initial
Source: Item 23 — RECEIPTS (FDD pages 56–189)
What This Means (2024 FDD)
According to Baya Bar's 2024 Franchise Disclosure Document, the Developer Acknowledgment Statement specifies that, except as explicitly stated in the Franchise Disclosure Document, Baya Bar has not made any other representations of performance, financial or otherwise, to the developer regarding the Baya Bar outlets. The developer acknowledges this and waives any claims against Baya Bar for business failure, as a developer, under the agreement.
The developer confirms that no claims of success or failure were made before signing the agreement and that they understand all terms and conditions. The agreement encompasses all oral and written understandings between the parties, superseding prior contracts, but it does not disclaim the representations made within Baya Bar's Franchise Disclosure Document.
The developer also confirms they are unaware of any representations by Baya Bar or its representatives that contradict the agreement's terms or incorporated documents. They acknowledge that no warranties or guarantees, either express or implied, have been made regarding the potential volume, profits, or success of the business venture, except as specifically outlined in the agreement.