What must a Card My Yard franchisee do upon death or claim of permanent disability?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
- (7) If you or any of your Owners transfer or attempt to transfer any rights or obligations under this Agreement or any interest in you or the Card My Yard business contrary to the terms of this Agreement, or if a transfer upon death or permanent disability is not made in accordance with Section XV.E.;
Source: Item 23 — RECEIPTS (FDD pages 84–259)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, if a franchisee experiences death or permanent disability, specific actions must be taken regarding the franchise agreement. The franchise agreement can be terminated if a transfer upon death or permanent disability is not made in accordance with Section XV.E of the agreement. This indicates that there are procedures outlined in the agreement that must be followed to ensure a proper transfer of the franchise in such circumstances.
While the FDD excerpt specifies that a failure to transfer the franchise according to Section XV.E can lead to termination, it does not detail the exact steps a franchisee (or their estate) must take. It only highlights the importance of adhering to the guidelines set forth in that section of the franchise agreement.
To fully understand the obligations and procedures in the event of death or permanent disability, a prospective Card My Yard franchisee should carefully review Section XV.E of the franchise agreement. They should also discuss this scenario with the franchisor to gain clarity on the required steps and any potential implications for their business and family.