How can a party waive an obligation imposed on the other party in the Bigfoot Forestry agreement?
Bigfoot_Forestry Franchise · 2025 FDDAnswer from 2025 FDD Document
- 8.2. By Mutual Agreement. If you and we mutually agree in writing to terminate this Agreement, any notice or cure period that might otherwise apply shall be deemed waived.
Source: Item 23 — RECEIPT (FDD pages 42–162)
What This Means (2025 FDD)
According to the 2025 Bigfoot Forestry Franchise Disclosure Document, a notice or cure period can be waived if both Bigfoot Forestry and the franchisee mutually agree in writing to terminate the agreement. This waiver applies specifically to the termination of the Development Agreement.
This means that if both parties decide to end the Development Agreement, any required waiting periods or opportunities to fix a problem before termination can be skipped, provided there is a written agreement to do so. This offers flexibility for both Bigfoot Forestry and the franchisee if they both agree that ending the agreement is the best course of action.
It is important to note that this waiver applies only to the Development Agreement and not necessarily to the Franchise Agreement itself. If a franchisee is considering waiving any rights or cure periods, they should seek legal counsel to fully understand the implications.