Who are the parties that execute the Chem Dry Equipment Purchase Schedule?
Chem_Dry Franchise · 2024 FDDAnswer from 2024 FDD Document
IN WITNESS WHEREOF, the Franchisee and CDI have executed this Schedule effective as of the date first above written.
Source: Item 23 — Receipts (FDD pages 68–264)
What This Means (2024 FDD)
According to the 2024 Chem Dry Franchise Disclosure Document, the parties that execute the Equipment Purchase Schedule are the franchisee and CDI (Chem-Dry, Inc.). This means that both the franchisee, who is purchasing the equipment to operate their Chem Dry business, and Chem Dry, Inc., as the seller, must sign the schedule to formalize the agreement.
This Equipment Purchase Schedule is related to the Equipment Sales and Security Agreement. The franchisee agrees to purchase equipment from CDI, and CDI agrees to sell it to them based on the terms outlined in the schedule. This schedule lists the specific tangible equipment the franchisee is purchasing from Chem Dry.
By signing the Equipment Purchase Schedule, the franchisee acknowledges their obligation to purchase the equipment, and Chem Dry commits to providing it. This agreement is essential for defining the equipment requirements and financial obligations of the franchisee within the Chem Dry franchise system.