What is the definition of 'Parties' in the context of the Bumper Man Certified Technician Addendum?
Bumper_Man Franchise · 2025 FDDAnswer from 2025 FDD Document
| This Certified Technician Addendum to Bumper Man Franchise Agreement ("Addendum") is effective as of, 20 (the "Effective Date") by and among Bumper Man, Inc. ("Franchisor"), and ("Franchisee"), ("Principal") and ("Certified Technician"). Franchisor, Franchisee, Principal and Certified Technician are collectively referred to as "Parties" in this Addendum. |
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Source: Item 23 — RECEIPTS (FDD pages 45–180)
What This Means (2025 FDD)
According to Bumper Man's 2025 Franchise Disclosure Document, the term "Parties" in the Certified Technician Addendum refers collectively to the Franchisor (Bumper Man, Inc.), the Franchisee, the Principal, and the Certified Technician. This definition is crucial for understanding the scope and applicability of the addendum, as it clarifies who is bound by its terms and conditions.
For a prospective Bumper Man franchisee, this definition highlights the importance of understanding the relationships and obligations between all involved parties. The Certified Technician Addendum modifies the original Franchise Agreement, and it is essential to recognize that all four entities (Franchisor, Franchisee, Principal, and Certified Technician) are subject to the stipulations outlined within the addendum.
This definition ensures that all signatories to the Certified Technician Addendum are considered 'Parties' and are therefore legally bound by the document. Franchisees should carefully review the Certified Technician Addendum and the Franchise Agreement to fully understand their rights, responsibilities, and potential liabilities, as well as those of the other parties involved.