Does the Bombs Away General Release require the franchisee to sign any additional documents?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
[This is our current standard form of General Release. This document is not signed when you purchase a franchise. In circumstances such as a renewal of your franchise or as a condition of our approval of a sale of your franchise, we may require you to sign a general release.]
This General Release ("Release") is executed by the undersigned ("Releasor") in favor of Bombs Away Franchising, LLC, a Wyoming Limited Liability Company ("Bombs Away Franchising").
Source: Item 22 — CONTRACTS (FDD pages 35–36)
What This Means (2024 FDD)
According to the 2024 Bombs Away Franchise Disclosure Document, the General Release itself does not explicitly state that the franchisee must sign any additional documents along with it. However, the FDD indicates circumstances where a general release might be required, such as during a franchise renewal or as a condition for approving the sale of the franchise.
Item 22 discusses various contracts and agreements within the Bombs Away franchise system. While the General Release is mentioned as a standard form, the document itself primarily focuses on releasing Bombs Away Franchising from potential claims. The franchisee (or 'Releasor') agrees to release Bombs Away from any and all claims and also covenants not to sue Bombs Away Franchising.
Furthermore, the franchisee may be required to ensure that their general manager and other key employees sign Bombs Away's current form of confidentiality and non-compete agreement if requested by Bombs Away. This is separate from the General Release but highlights the potential for additional required documents within the franchise agreement. Therefore, while no additional documents are explicitly mentioned as being required with the General Release, franchisees should be aware of other agreements they or their employees might need to sign during the course of the franchise relationship.