In the context of the Boulder Designs Franchise Agreement amendment, when is the amendment entered into relative to the execution of the Franchise Agreement?
Boulder_Designs Franchise · 2025 FDDAnswer from 2025 FDD Document
| This Amendment to the Boulder Designs Franchise Agreement dated, 20 between | ||
|---|---|---|
| Boulder Designs Franchising, LLC, ("Franchisor") and | ||
| ("Franchisee") is entered into simultaneously with the execution of the Franchise Agreement. | ||
| 1. | Section 3.1 of the Franchise Agreement is amended to reflect that payment of Initial Franchise | |
| has commenced doing business. | Fees will be deferred until Franchisor has met its initial obligations to Franchisee, and Franchisee | |
| IN WITNESS WHEREOF, | Franchisee and Franchisor have executed this Amendment to the Franchise | |
| Agreement simultaneously with the execution of the Franchise Agreement. | ||
| FRANCHISOR: | FRANCHISEE: | |
| BOULDER DESIGNS | ||
| FRANCHISING, LLC | ||
| By: | By: | |
| Frank J. "Butch" Mogavero | Name/Title |
Source: Item 22 — CONTRACTS (FDD page 50)
What This Means (2025 FDD)
According to Boulder Designs' 2025 Franchise Disclosure Document, the amendment to the franchise agreement is entered into simultaneously with the execution of the Franchise Agreement. This means that both documents are signed and become effective at the same time. This simultaneous execution ensures that all parties are in agreement with the original terms and any modifications outlined in the amendment from the outset of the franchise relationship.
For a prospective Boulder Designs franchisee, this simultaneous execution means that they should carefully review both the Franchise Agreement and any amendments before signing. It is important to understand how the amendment alters or adds to the original agreement. Since the amendment takes effect immediately upon signing, the franchisee will be bound by these changes from day one.
This practice is fairly standard in franchising, as amendments often clarify specific aspects of the agreement or address legal requirements in certain states. By having both documents executed simultaneously, Boulder Designs aims to ensure clarity and mutual understanding of the franchise terms. Franchisees should seek legal counsel to fully understand the implications of all documents before signing.