Who must sign a written waiver for it to be binding on Bumble Roofing?
Bumble_Roofing Franchise · 2025 FDDAnswer from 2025 FDD Document
NOTE: IF THE RECIPIENT IS A CORPORATION, PARTNERSHIP, LIMITED LIABILITY COMPANY OR OTHER ENTITY, EACH OF ITS PRINCIPAL OWNERS MUST EXECUTE THIS ACKNOWLEDGMENT.
Source: Item 22 — CONTRACTS (FDD page 53)
What This Means (2025 FDD)
Based on the 2025 Bumble Roofing Franchise Disclosure Document, if the recipient of the document is a corporation, partnership, limited liability company, or other entity, each of its principal owners must execute the acknowledgment. This indicates that for Bumble Roofing to consider the waiver binding, all principal owners of the entity receiving the franchise disclosure document must sign it.
This requirement ensures that all key individuals with a vested interest in the franchisee entity are aware of and agree to the terms and conditions outlined in the franchise agreement. By mandating signatures from all principal owners, Bumble Roofing aims to prevent future disputes or claims that certain owners were unaware of their obligations or the risks associated with the franchise.
For a prospective Bumble Roofing franchisee, this means that if you are operating under a business entity, you must ensure that all principal owners are fully informed about the franchise agreement and are prepared to sign the acknowledgment. Failure to obtain all necessary signatures could potentially invalidate the agreement or lead to legal complications down the line. It is crucial to carefully review the definition of "principal owner" within the franchise agreement to ensure compliance.