What is the procedure for executing the Chem Dry Equipment Purchase Schedule?

According to Chem Dry's 2024 Franchise Disclosure Document, the Equipment Purchase Schedule is executed by both the franchisee and CDI (Chem-Dry, Inc.). The document states that both parties must sign the schedule to indicate their agreement to the terms outlined within it. This signifies a mutual commitment to the purchase and sale of equipment necessary for operating a Chem-Dry franchise. The schedule becomes effective as of the date written on the document, formalizing the agreement between the franchisee and Chem Dry.

The Equipment Sales and Security Agreement governs the Equipment Purchase Schedule. If the equipment purchased is not proprietary to CDI or does not bear any insignia or color schemes associated with the Chem-Dry brand, the requirements of paragraph 6 of the Equipment Sales and Security Agreement are waived for the equipment. This suggests that certain restrictions or requirements may be relaxed if the equipment is generic and not specifically branded for Chem-Dry.

This process ensures that both Chem Dry and the franchisee are legally bound to the terms of the equipment purchase, providing a clear framework for the transaction. The franchisee should carefully review the Equipment Sales and Security Agreement and the Equipment Purchase Schedule to fully understand their obligations and rights regarding the purchased equipment. The franchisee should also confirm whether the equipment they are purchasing is considered proprietary to CDI, as this may affect the terms and conditions of the agreement.