What is the document referred to as in the Bor Restoration franchise agreement?
Bor_Restoration Franchise · 2024 FDDAnswer from 2024 FDD Document
-|------| | SOCIAL SECURITY | | | NO.: | | | ADDRESS: | | | DRIVER'S LICENSE | | | STATE AND NO.: | | | GENDER: | |
© 2024 All rights reserved BOR Franchising, LLC Gen 3-30-24 ____________ ___________ Initials Initials
EXHIBIT 4 GENERAL RELEASE
| © 2024 All rights reserved BOR Franchising, LLC Gen 3-30-24 | 68 | ||
|---|---|---|---|
| Initials | Initials |
GENERAL RELEASE
| This General Release (Release) is made on the date that all Parties sign it (Effective Date) between BOR Franchising, LLC, a Colorado limited liability company authorized to do business in Colorado (Franchisor), (Franchisee), and (Guarantor). Franchisor, Franchisee, and Guarantor may sometimes be referred to as a "Party" or jointly as the "Parties." All capitalized terms not defined in this Release will have the meaning stated in the Franchise Agreement. |
|---|
| RECITALS |
| Franchisor and Franchisee entered into that certain franchise agreement dated |
| (Franchise Agreement), and Guarantor guaranteed the performance of the Franchisee under the Franchise |
| Agreement. |
Source: Item 23 — Receipts (FDD pages 40–202)
What This Means (2024 FDD)
According to the 2024 Bor Restoration Franchise Disclosure Document, the franchise agreement is referred to as "Franchise Agreement" within the context of a general release document. This is evident in the provided excerpt where the document outlines the relationship between the Franchisor, Franchisee, and Guarantor, all of whom have entered into a franchise agreement.
Specifically, the document states that the Franchisor and Franchisee entered into "that certain franchise agreement dated (Franchise Agreement)," indicating that 'Franchise Agreement' is the term used to identify the original agreement between the parties. This terminology is consistently used throughout the document when referencing the obligations, rights, and potential amendments related to the franchise relationship.
For a prospective Bor Restoration franchisee, this means that any legal documents, releases, or amendments related to their franchise will likely refer to the original agreement as the 'Franchise Agreement'. Understanding this terminology is crucial for correctly interpreting legal documents and understanding the scope and nature of their obligations and rights under the franchise system.