What rights does a franchisee waive if they accept financing from Bumble Roofing and sign the Note?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
If we offer and you accept financing from us, and you sign the Note, you will be required to waive and excuse presentment for acceptance and payment, notice of dishonor, and protest of dishonor. Other than as mentioned in the previous sentence, neither the Note, nor any other financing document you sign will contain any waiver of defense or other legal rights, or bar you from asserting a defense against us or our assignee.
Source: Item 10 — FINANCING (FDD page 30)
What This Means (2025 FDD)
According to Bumble Roofing's 2025 Franchise Disclosure Document, if a franchisee accepts financing from Bumble Roofing and signs the Note, they will be required to waive certain rights. Specifically, the franchisee will waive and excuse presentment for acceptance and payment, notice of dishonor, and protest of dishonor.
However, the FDD clarifies that beyond these specific waivers, neither the Note nor any other financing document will contain any waiver of defense or other legal rights. This means a franchisee is not barred from asserting a defense against Bumble Roofing or its assignee in other matters.
This is a fairly standard practice in financing agreements. The waivers relate to the technical aspects of payment collection, ensuring Bumble Roofing can efficiently manage the loan. Franchisees should carefully consider the implications of these waivers, but also note that their broader legal rights and defenses are generally preserved under the financing agreement.