What is a Cinch I.T. franchisee acknowledging regarding the Franchise Disclosure Document?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
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- You acknowledge that You have read this Agreement and Franchisor's franchise disclosure document ("Franchise Disclosure Document"), and that You have no knowledge of any representations about the franchise or about Franchisor or its franchising program or policies made by Franchisor or by its managers, officers, directors, shareholders, members, employees or agents which are contrary to the statements in Franchisor's Franchise Disclosure Document or to the terms of this Agreement, and that You understand and accept the terms, conditions and covenants contained in this Agreement as being reasonably necessary to maintain Franchisor's high standards of quality and service and the uniformity of the System Standards at all CINCH I.T. businesses which operate pursuant to the System and thereby to protect and preserve the goodwill of the Licensed Rights.
Source: Item 23 — RECEIPTS (FDD pages 60–269)
What This Means (2024 FDD)
According to the 2024 Cinch I.T. Franchise Disclosure Document, a franchisee acknowledges having read the Franchise Disclosure Document and the franchise agreement. They also acknowledge that they are not aware of any representations about the franchise, Cinch I.T., or its franchising program that contradict the statements in the Franchise Disclosure Document or the terms of the Franchise Agreement.
This acknowledgement confirms that the franchisee understands and accepts the terms, conditions, and covenants in the Franchise Agreement. These terms are deemed reasonably necessary by Cinch I.T. to maintain its high standards of quality and service. The franchisee recognizes that uniformity of system standards at all Cinch I.T. businesses is essential to protect and preserve the goodwill of the licensed rights.
By signing the franchise agreement, the franchisee confirms they are not relying on any information outside of the official FDD and the agreement itself. This is a standard clause in franchise agreements, intended to prevent franchisees from later claiming they were misled by verbal promises or unofficial materials. Prospective franchisees should carefully review the FDD and Franchise Agreement and seek legal counsel to fully understand their rights and obligations before signing.