Under what condition is a waiver binding under the Best Brains Option Agreement?
Best_Brains Franchise · 2025 FDDAnswer from 2025 FDD Document
- d. No Waiver. No waiver of any of the provisions of this Option Agreement shall be deemed, or shall constitute, a waiver of any other provision, whether or not similar, nor shall any waiver constitute a continuing waiver. No waiver shall be binding unless executed in writing by the party making the waiver.
Source: Item 23 — RECEIPTS (FDD pages 42–190)
What This Means (2025 FDD)
According to the 2025 Best Brains Franchise Disclosure Document, a waiver of any provision within the Option Agreement is only binding if it is executed in writing by the party making the waiver. This means that any verbal agreements or implied waivers will not be considered valid.
This requirement protects both Best Brains and the franchisee by ensuring that any changes or concessions to the Option Agreement are documented and agreed upon in a clear, written format. This reduces the risk of misunderstandings or disputes later on, as there is a tangible record of the waiver.
For a prospective Best Brains franchisee, this means that if the franchisee wants to ensure that Best Brains has waived a certain requirement or provision, they must obtain a written waiver signed by Best Brains. Similarly, Best Brains must ensure any waiver it grants to a franchisee is documented in writing and signed to be legally binding. This clause promotes transparency and accountability in the Option Agreement, which is a standard practice in franchising.