What is the effective date of a waiver of obligation under the Caption By Hyatt franchise agreement?
Caption_By_Hyatt Franchise · 2025 FDDAnswer from 2025 FDD Document
- 18.3 Waiver of Obligations and Force Majeure. Hyatt and Franchisee may unilaterally waive or reduce any obligation of or restriction upon the other under this Agreement only by a signed written instrument, effective upon delivery of written notice to the other or another effective date stated in the notice of waiver. Any waiver granted will be without prejudice to any other rights Hyatt or Franchisee have, will be subject to continuing review, and may be revoked at any time and for any reason effective upon delivery of ten (10) days' prior written notice.
Source: Item 22 — Contracts (FDD page 85)
What This Means (2025 FDD)
According to the 2025 Caption By Hyatt Franchise Disclosure Document, Hyatt and the franchisee can waive or reduce obligations or restrictions, but only through a signed written agreement. This waiver becomes effective either when written notice is delivered to the other party or on another date specifically stated in the waiver notice.
However, any waiver granted by Caption By Hyatt is not permanent. The waiver is subject to ongoing review and can be revoked at any time, for any reason. To revoke a waiver, Caption By Hyatt must provide ten days' prior written notice to the franchisee.
This means that as a Caption By Hyatt franchisee, you cannot rely on a past waiver as a guarantee of future leniency. Hyatt retains the right to change its position, so it's crucial to maintain open communication and address any concerns promptly to avoid potential issues arising from the revocation of a waiver.