Is the assignment of power of attorney to Chem Dry considered the exclusive remedy for Chem Dry?
Chem_Dry Franchise · 2024 FDDAnswer from 2024 FDD Document
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- Election of Remedies: It is understood and agreed that the provisions set forth in this Assignment are deemed a special remedy given to the Franchisor and are not deemed to exclude any of the remedies granted in the Franchise Agreement or any other agreement between the Franchisor and the Franchisee, but are deemed an additional remedy and shall be cumulative with the remedies therein and elsewhere granted to the Franchisor, all of which remedies are enforceable concurrently or successively.
Source: Item 22 — CONTRACTS (FDD page 68)
What This Means (2024 FDD)
According to Chem Dry's 2024 Franchise Disclosure Document, the assignment of power of attorney to Chem Dry is not considered the exclusive remedy. The document states that the provisions outlined in the assignment are a special remedy provided to Chem Dry but do not exclude any other remedies granted in the Franchise Agreement or any other agreement between Chem Dry and the franchisee.
This means that Chem Dry has multiple avenues for addressing defaults or breaches of contract by the franchisee. The power of attorney is simply one tool in their arsenal, and they can pursue other legal or contractual remedies concurrently or successively. This is a common practice in franchising, as franchisors typically want to maintain maximum flexibility in protecting their brand and enforcing their agreements.
For a prospective Chem Dry franchisee, this implies that granting Chem Dry power of attorney does not limit Chem Dry's ability to pursue other remedies if the franchisee defaults. It is crucial for franchisees to understand all potential remedies Chem Dry can pursue and to comply with all terms of the Franchise Agreement and any related agreements to avoid triggering any of these remedies.