What agreements must be signed during any applicable Renewal Term of a Burneys Sweets More franchise?
Burneys_Sweets_More Franchise · 2025 FDDAnswer from 2025 FDD Document
e).
- (v) Renewal Agreement. Franchisee, its Owners, and its guarantors execute and deliver to Franchisor, within thirty (30) days after delivery to Franchisee, the form of BURNEY'S SWEETS & MORE franchise agreement and ancillary agreements, which agreements shall supersede this which agreements shall supersede this Agreement in all respects, and the terms, conditions, obligations, rights, and other provisions that are substantially and materially different from those spelled out in this Agreement (including, for example, different performance standards, fee structures, increased fees and/or reduced territory protections) ("Renewal Agreement").
- (vi) Renewal Fee. Franchisee has paid to Franchisor a renewal fee of Eight Thousand Five Hundred Dollars ($8,500), which fee shall be due in immediately available funds upon the execution of the Renewal Agreement. For the avoidance of doubt, Franchisee shall pay the aforementioned renewal fee prior to each Renewal Term.
- (vii) Release. Franchisee; Owners; guarantors of the Franchisee; for themselves and on behalf of their respective predecessors, affiliates, shareholders, members, partners, officers, directors, managers, employees, agents, representatives, attorneys, accountants, personal representatives, heirs, executors, administrators, successors, and assigns (collectively, "Releasors") execute and deliver to Franchisor a general release, in the form prescribed by Franchisor, releasing, to the fullest extent permitted by law, all claims that Releasors may have against Franchisor; Franchisor's predecessors, and affiliates and their respective shareholders, members, partners, officers, directors, managers, employees, agents, representatives, attorneys, accountants, guarantors, successors, and assigns, in both their corporate and individual capacit
Source: Item 22 — CONTRACTS (FDD page 50)
What This Means (2025 FDD)
According to the 2025 Burneys Sweets More Franchise Disclosure Document, to enter a Renewal Term, a franchisee, its owners, and its guarantors must execute and deliver to Burneys Sweets More a franchise agreement and ancillary agreements within 30 days of delivery to the franchisee. This agreement will supersede the original agreement in all respects and may contain terms, conditions, obligations, rights, and other provisions that are substantially and materially different from those in the original agreement. These differences may include different performance standards, fee structures, increased fees, and/or reduced territory protections. This superseding agreement is referred to as the "Renewal Agreement."
In addition to the Renewal Agreement, the franchisee, owners, and guarantors must also execute and deliver a general release to Burneys Sweets More. This release, in a form prescribed by Burneys Sweets More, releases all claims that the releasors may have against Burneys Sweets More and its affiliates to the fullest extent permitted by law.
Furthermore, the franchisee must pay a renewal fee of $8,500 to Burneys Sweets More upon the execution of the Renewal Agreement. This fee is due in immediately available funds and must be paid prior to each Renewal Term. These requirements ensure that Burneys Sweets More franchisees meet certain obligations and agree to updated terms before continuing their franchise operations.