What agreement must a Card My Yard franchisee execute to renew the Franchise Agreement?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
- (6) You must execute our then-current form of renewal franchise agreement, which will supersede this Agreement in all respects, and the terms of which may differ from the terms of this Agreement, except thatthe fees on renewal will not be greater than the feesthat we then impose on similarly situated renewing franchisees;
- (7) You and your Owners must execute a general release of any and all claims against us, our Affiliates, and our and their respective officers, directors, shareholders, partners, members, agents, representatives, independent contractors, servants and employees, past and present, in their corporate and individual capacities, including, without limitation, claims arising under this Agreement or under federal, state or local laws, rules, regulations or orders;
Source: Item 23 — RECEIPTS (FDD pages 84–259)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, to renew the franchise agreement, a franchisee must execute the then-current form of renewal franchise agreement. This new agreement will completely replace the original agreement and its terms may be different. However, the fees on renewal will not be greater than the fees that Card My Yard imposes on similarly situated renewing franchisees.
In addition to executing the renewal franchise agreement, the franchisee and their owners must also sign a general release of any and all claims against Card My Yard, its affiliates, and their respective officers, directors, shareholders, partners, members, agents, representatives, independent contractors, servants, and employees, past and present, in their corporate and individual capacities. This release includes, without limitation, claims arising under the original Franchise Agreement or under federal, state, or local laws, rules, regulations, or orders.
Furthermore, the franchisee must present evidence satisfactory to Card My Yard that they have the right to remain in possession of the franchise location during the entire renewal term or obtain Card My Yard's consent to a new site for the Card My Yard business. The franchisee must also comply with Card My Yard's then-current qualification and training requirements. These stipulations ensure that the franchisee is up-to-date with the brand's standards and practices.
Finally, the franchisee must not be in default of the existing agreement, and must have timely satisfied all monetary obligations owed to Card My Yard and its affiliates. The franchisee must also refurbish, repair, or replace all equipment, computer systems, signs, fixtures, furnishings, supplies, and other items required for the operation of the Card My Yard business as Card My Yard may reasonably require, and must otherwise upgrade the Card My Yard business to reflect the then-current standards and image of the system. These requirements ensure that the Card My Yard franchise maintains its quality and brand consistency.