Where can I find the Baya Bar Franchisee Acknowledgement Statement within the FDD exhibits?
Baya_Bar Franchise · 2024 FDDAnswer from 2024 FDD Document
et, and Social Media Listing Assignment Agreements, Spousal Guaranty, and Confidentiality and Non-Compete Agreement).
- Exhibit C -- Multi-Unit Development Agreement
- Exhibit H -- Franchisee Acknowledgement Statement, as permitted by state law. No statement, questionnaire, or acknowledgment signed or agreed to by a franchisee in connection with the commencement of the franchise relationship shall have the effect of (i) waiving any claims under any applicable state franchise law, including fraud in the inducement, or (ii) disclaiming reliance on any statement made by any franchisor, f
Source: Item 22 — CONTRACTS (FDD page 56)
What This Means (2024 FDD)
According to the 2024 Baya Bar Franchise Disclosure Document, the Franchisee Acknowledgement Statement can be found in Exhibit H. The document clarifies that no statement signed by a franchisee can waive claims under state franchise law, including fraud, or disclaim reliance on statements made by Baya Bar. This provision supersedes any other term in any document related to the franchise agreement.
This acknowledgement is a standard legal protection for franchisees. It ensures that franchisees retain their rights under applicable state franchise laws, preventing Baya Bar from enforcing waivers of these rights through the acknowledgement statement. This is particularly important concerning potential claims of fraud or misrepresentation during the franchise sales process.
Prospective franchisees should carefully review Exhibit H and understand their rights and obligations. They should also consult with a legal professional to ensure they fully understand the implications of signing the Franchisee Acknowledgement Statement and how it interacts with other parts of the franchise agreement.