What is the name of the Illinois law that this addendum to the Bombs Away Disclosure Document recognizes?
Bombs_Away Franchise · 2024 FDDAnswer from 2024 FDD Document
ILLINOIS ADDENDUM TO DISCLOSURE DOCUMENT
In recognition of the requirements of the Illinois Franchise Disclosure Act of 1987, as amended (the "Act"), this Disclosure Document is amended as follows:
Illinois law governs the agreements between the parties to this franchise.
Section 4 of the Act provides that any provision in a franchise agreement that designates jurisdiction or venue outside the State of Illinois is void. However, a franchise agreement may provide for arbitration outside of Illinois.
Section 41 of the Act provides that any condition, stipulation, or provision purporting to bind any person acquiring any franchise to waive compliance with the Act or any other law of Illinois is void.
Your rights upon termination and non-renewal of a franchise agreement are set forth in sections 19 and 20 of the Act.
Source: Item 23 — RECEIPTS (FDD pages 36–117)
What This Means (2024 FDD)
According to the 2024 Bombs Away Franchise Disclosure Document, the Illinois addendum recognizes the requirements of the Illinois Franchise Disclosure Act of 1987, as amended, which is referred to as "the Act" within the document. This addendum serves to amend the disclosure document in order to comply with Illinois law.
Several sections of the Illinois Franchise Disclosure Act are highlighted within the addendum. Specifically, Section 4 of the Act addresses jurisdiction and venue, stating that any provision in a franchise agreement that designates jurisdiction or venue outside of Illinois is void, although arbitration outside of Illinois is permitted. Additionally, Section 41 of the Act prohibits any condition, stipulation, or provision that would bind a person acquiring a franchise to waive compliance with the Act or any other Illinois law.
Furthermore, the addendum mentions that Sections 19 and 20 of the Act outline the rights of the franchisee upon termination and non-renewal of the franchise agreement. This ensures that Bombs Away franchisees in Illinois are aware of their legal rights and protections under state law, particularly regarding the enforceability of certain clauses within the franchise agreement.