Under what condition does the agreement become binding on Byrider?
Byrider Franchise · 2025 FDDAnswer from 2025 FDD Document
| THIS ACCEPTANCE AND ASSUMPTION OF OBLIGATIONS (the "Agreement") is made as of the Effective Date by and between BYRIDER FRANCHISING PARTNERS, LLC ("us"), ("Franchisee"), |
|---|
| , |
| a |
| having |
| its |
| principal place of business at the same address as the Franchisee (the "Finance Entity"), and the |
| undersigned Guarantors. The Effective Date is the date we sign this Agreement as shown beneath |
| our signature on the signature page. |
| RECITALS |
| A. |
| We and Franchisee are parties to a Franchise Agreement, dated, |
| pursuant to which we granted Franchisee the right and license, and Franchisee undertook the |
| obligation, to own and operate a Business, including both a Byrider sales division and a CNAC |
| finance |
| division, |
| at |
| (the |
| "Franchise Agreement"). Each of the undersigned Guarantors has executed a Personal Guaranty |
| and Assumption of Franchisee's Obligations (each a "Guarantee Agreement"). |
Source: Item 23 — Receipts (FDD pages 88–335)
What This Means (2025 FDD)
According to Byrider's 2025 Franchise Disclosure Document, the franchise agreement becomes binding on Byrider when Byrider Franchising Partners, LLC signs the agreement. The effective date of the agreement is the date Byrider signs it, as indicated beneath their signature on the signature page. This date marks when both parties are legally obligated to adhere to the terms and conditions outlined in the franchise agreement.
This condition is important for prospective franchisees because it clarifies when they can expect Byrider to be fully committed to the agreement. Until Byrider signs, there may be a period of negotiation or due diligence where the agreement is not yet in force. Knowing the effective date helps franchisees understand their rights and obligations from a specific point forward.
It is typical in franchising for the agreement to become binding upon the signature of both parties, but this clause specifies that Byrider's signature is the trigger. Franchisees should ensure they receive a fully executed copy of the agreement with Byrider's signature to confirm the agreement is in effect.