Does the Baya Bar Franchise Agreement allow parties to conduct business electronically?
Baya_Bar Franchise · 2024 FDDAnswer from 2024 FDD Document
- 21.10.
Consent to Do Business Electronically.
The parties to the Franchise Agreement hereby consent to do business electronically.
Pursuant to the Uniform Electronic Transactions Act as adopted by the State of New York, the parties hereby affirm to each other that they agree with the terms of the Franchise Agreement and its Addenda, and by attaching their signature electronically to the Franchise Agreement, they are executing the document and intending to attach their electronic signature to it.
Furthermore, the parties acknowledge that the other parties to the Franchise Agreement can rely on an electronic signature as the respective party's signature.
Source: Item 22 — CONTRACTS (FDD page 56)
What This Means (2024 FDD)
According to the 2024 Baya Bar Franchise Disclosure Document, the parties to the Franchise Agreement consent to conduct business electronically. The document states that by attaching their signature electronically to the Franchise Agreement, they are executing the document and intending to attach their electronic signature to it. Furthermore, all parties acknowledge that the other parties to the Franchise Agreement can rely on an electronic signature as the respective party's signature.
This consent is made under the Uniform Electronic Transactions Act as adopted by the State of New York, indicating that Baya Bar aims to comply with electronic transaction laws. This provision facilitates modern business practices, allowing for quicker and more efficient agreement processes.
This clause in the Baya Bar franchise agreement allows for the convenience of digital signatures and electronic communication, which is a common practice in contemporary franchising. Franchisees should ensure they understand the implications of electronic signatures and data transmission security to protect their interests and comply with the agreement.