For a waiver to be effective for the Big Air Trampoline Park agreement, who needs to sign it?
Big_Air_Trampoline_Park Franchise · 2025 FDDAnswer from 2025 FDD Document
No interpretation, change, termination or waiver of any provision of this Agreement, and no consent or approval under this Agreement, shall be binding upon Franchisee or Franchisor or effective unless in writing signed by Franchisee and Franchisor's CEO, President or Vice President, except that a waiver need be signed only by the party waiving.
Source: Item 23 — RECEIPT (FDD pages 53–255)
What This Means (2025 FDD)
According to Big Air Trampoline Park's 2025 Franchise Disclosure Document, for any waiver of a provision in the franchise agreement to be binding and effective, it must be in writing and signed by both the franchisee and one of Big Air Trampoline Park's executive officers (CEO, President, or Vice President). However, the document specifies that a waiver needs to be signed only by the party who is waiving the provision.
This requirement ensures that any changes to the agreement are formally documented and agreed upon by both parties, preventing misunderstandings or disputes in the future. It also protects the franchisee by requiring a high level of authorization from Big Air Trampoline Park for any waivers, ensuring that such decisions are carefully considered by the franchisor.
This type of clause is relatively standard in franchise agreements, as it provides a clear and formal process for modifying the terms of the agreement. Prospective Big Air Trampoline Park franchisees should pay close attention to this clause, as it dictates how any future changes or waivers to their franchise agreement must be handled to be legally binding.