Does the Chocolate Fish Coffee disclosure document include a form of General Release?
Chocolate_Fish_Coffee Franchise · 2024 FDDAnswer from 2024 FDD Document
Premises to remove signs and other material bearing Franchisor's brand name, trademarks, and commercial symbols, provided that Franchisor will be liable to Landlord for any damage Franchisor or its designee causes by such removal.
-
- No Liability. By executing this Rider, Franchisor does not assume any liability with respect to the Leased Premises or any obligation as Tenant under the Lease.
Executed by: LANDLORD: TENANT: CHOCOLATE FISH FRANCHISING, LLC
Attachment 5 to Franchise Agreement
FORM OF GENERAL RELEASE
[This is our current standard form of General Release. This document is not signed when you purchase a franchise. In circumstances such as a renewal of your franchise or as a condition of our approval of a sale of your franchise, we may require you to sign a general release.]
This General Release ("Release") is executed by the undersigned ("Releasor") in favor of Chocolate Fish Franchising, LLC, a Wyoming Limited Liability Company ("Chocolate Fish Franchising").
Background Statement: [describe circumstances of Release]
Releasor agrees as follows:
- **1.
Source: Item 23 — RECEIPTS (FDD pages 41–119)
What This Means (2024 FDD)
According to Chocolate Fish Coffee's 2024 Franchise Disclosure Document, a standard form of General Release is included as Attachment 5 to the Franchise Agreement. The document specifies that this release is not signed when purchasing a franchise initially. However, Chocolate Fish Coffee may require a franchisee to sign a general release in circumstances such as a franchise renewal or as a condition for approving the sale of the franchise.
The General Release is executed by the Releasor in favor of Chocolate Fish Franchising, LLC. The document includes a background statement to describe the circumstances of the release. This indicates that the release is intended to address specific situations that may arise during the franchise relationship, rather than being a blanket waiver of all potential claims at the outset.
It is important for prospective franchisees to understand the implications of signing a General Release. Such a release could waive certain rights or claims against Chocolate Fish Coffee. Franchisees should carefully review the circumstances under which they might be asked to sign such a release and seek legal counsel to fully understand their rights and obligations.
For residents of Maryland and Washington, there are specific stipulations. The release does not apply to any liability under the Maryland Franchise Registration and Disclosure Law. For Washington residents, a release or waiver of rights executed by a franchisee shall not include rights under the Washington Franchise Investment Protection Act unless it is executed pursuant to a negotiated settlement after the franchise agreement is in effect and where the parties are represented by independent counsel.