Where can I find the Black Bear Diner Form of General Release exhibit?
Black_Bear_Diner Franchise · 2025 FDDAnswer from 2025 FDD Document
I received a disclosure document dated March 28, 2025 that included the following Exhibits:
- A. List of Agents for Service of Process and State Administrators
- B. Franchise Agreement
- C. Area Development Agreement
- D. Contents of Manual
- E. Financial Statements
- F. List of Black Bear Diner Franchisees
- G. List of Franchisees Who Have Left the System
- H. Multi-State Addenda
- I. Form of General Release
- J. State Effective Dates
Source: Item 22 — CONTRACTS (FDD page 56)
What This Means (2025 FDD)
According to Black Bear Diner's 2025 Franchise Disclosure Document, the Form of General Release can be found as Exhibit I. Item 23 of the FDD includes a receipt page that lists all the exhibits included in the disclosure document. This receipt is intended to be signed by the prospective franchisee to acknowledge they received all the listed documents.
The Form of General Release is a legal document where the franchisee (or "Releasor") confirms the absence of any claims against Black Bear Diner. This form is required as a condition to entering into a Renewal Franchise Agreement or consenting to a Transfer of the Franchise. By signing the release, the franchisee waives their rights to pursue any future legal action against the franchisor related to their franchise agreement.
Prospective franchisees should carefully review the Form of General Release (Exhibit I) and understand its implications before signing any agreements. It is advisable to consult with an attorney to fully comprehend the rights being waived and the potential consequences of signing the release. Understanding the contents of all exhibits, including the Form of General Release, is a crucial part of the due diligence process before investing in a Black Bear Diner franchise.