In the Satellite Office Addendum for Best In Class Education Center, what are 'you' and 'we' collectively referred to as?
Best_In_Class_Education_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
| This Satellite Office Addendum (this "Addendum") is entered into this day of, 202 (the "Effective Date"), between BiC Franchise System Corporation, a Delaware corporation ("us") and , a(n) ("you"). You and we are collectively referred to as the "Parties." |
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Source: Item 23 — RECEIPT (FDD pages 47–204)
What This Means (2025 FDD)
According to the 2025 Best In Class Education Center FDD, the Satellite Office Addendum specifies that 'you' (the franchisee) and 'we' (BiC Franchise System Corporation) are collectively referred to as the "Parties." This definition is important for understanding the legal context of the addendum, as it clarifies who is bound by the terms and conditions outlined within the document.
This collective term is used throughout the Satellite Office Addendum to refer to both the franchisee and franchisor when discussing their shared rights, responsibilities, and obligations. For example, any agreements, notices, or required actions will involve both "Parties," ensuring that both the franchisee and Best In Class Education Center are aligned and accountable.
Prospective franchisees should pay close attention to how the term "Parties" is used throughout the addendum to fully understand their obligations and the franchisor's commitments. Understanding this definition helps in interpreting the legal and operational aspects of the Satellite Office Addendum and its impact on the franchisee-franchisor relationship.