Are the rights and remedies of the parties to the Card My Yard agreement exclusive of other rights or remedies?
Card_My_Yard Franchise · 2025 FDDAnswer from 2025 FDD Document
has not been open for at least 12 months then your liquidated damages amount will be $6,600). Such amount shall be due and payable to us in one lump sum payment promptly upon our written request. Such liquidated damages are in addition to, and not in lieu of, any other remedies available to us under this Agreement and shall be due and payable
to us regardless of whether we terminate this Agreement or take other remedial actions.
D. Liquidated Damages/Non-Reporting or Under-Reporting Fee. An amount equal to $5,000 per occurrence will be owed for each instance when we document your intentional non-reporting or under-reporting of revenues that you realize and receive from your Card My Yard business. Upon such an occurrence, in addition to such fees, we will have a right to terminate the franchise without a right to cure.
XX. MISCELLANEOUS
A. Notices.
Source: Item 23 — RECEIPTS (FDD pages 84–259)
What This Means (2025 FDD)
According to Card My Yard's 2025 Franchise Disclosure Document, the remedies outlined in the franchise agreement are not exclusive. This means that Card My Yard retains the right to pursue any and all available legal avenues in addition to those specifically mentioned in the agreement.
For instance, if a franchisee were to close their Card My Yard business without authorization or breach the agreement, they would be required to pay liquidated damages. The agreement specifies that this payment does not prevent Card My Yard from pursuing other remedies. The liquidated damages could be either $6,600 or twice the royalties paid over the previous 12 months, whichever is greater. If the business has been open for less than 12 months, the liquidated damages will be $6,600.
Similarly, if a Card My Yard franchisee intentionally fails to report or under-reports revenue, they will owe $5,000 per occurrence. In addition to these fees, Card My Yard has the right to terminate the franchise agreement without allowing the franchisee an opportunity to correct the issue. This $5,000 fee does not preclude Card My Yard from pursuing other legal or contractual remedies.