Is the Cinch I.T. General Release included as an exhibit?
Cinch_I_T Franchise · 2024 FDDAnswer from 2024 FDD Document
[Item 23: RECEIPTS]
EXHIBIT M TO THE DISCLOSURE DOCUMENT CINCH FRANCHISE, LLC FORM OF GENERAL RELEASE
FORM OF GENERAL RELEASE
This General Release ("Release") is made and entered into on this day of, 20 by and between CINCH FRANCHISE, LLC and ("Franchisor") ("Franchisee"). WITNESSETH: WHEREAS, Franchisor and Franchisee are parties to a CINCH I.T. Franchise Agreement CINCH (the "Franchise Agreement") dated, 20, granting Franchisee the right to operate a I.T. business under Franchisor's proprietary marks and system. NOW THEREFORE, in consideration of the mutual covenants and conditions contained in this Release, and other good and valuable consideration, receipt of which is hereby acknowledged by each of the parties hereto, the parties hereto agree as follows: Franchisee, for itself and its successors, predecessors, assigns, beneficiaries, executors, trustees, agents, representatives, employees, officers, directors, shareholders, partners, members, subsidiaries and affiliates (jointly and severally, the "Releasors"), irrevocably and absolutely releases and forever discharges Franchisor and its successors, predecessors, assigns, beneficiaries, executors, trustees, agents, representatives, employees, officers, directors, shareholders, partners, members, subsidiaries and affiliates (jointly and severally, the "Releasees"), of and from all claims, obligations, actions or causes of action (however denominated), whether in law or in equity, and whether known or unknown, present or contingent, for any injury, damage, or loss whatsoever arising from any acts or occurrences occurring as of or prior to the date of this Release relating to the Franchise Agreement, the business operated under the Franchise Agreement, and/or any other agreement between any of the Releasees and any of the Releasors. The Releasors, and each of them, also covenant not to sue or otherwise bring a claim against any of the Releasees regarding any of the claims being released under this Release. This Release shall not apply to any liability under the Maryland Franchise Registration and Disclosure Law. This General Release shall not apply to claims arising under the Washington Franchise Investment Protection Act, RCW 19.100, and the rules adopted thereunder. IN WITNESS WHEREOF, the parties hereto have executed this Release as of the date first above written. CINCH FRANCHISE, LLC
Source: Item 22 — CONTRACTS (FDD page 60)
What This Means (2024 FDD)
According to the 2024 Cinch I.T. Franchise Disclosure Document, the Form of General Release is included as Exhibit M. This exhibit is referenced in Item 23, which pertains to receipts. The document includes the full text of the General Release form. This form outlines the terms and conditions under which the franchisee releases Cinch I.T. from any claims related to the Franchise Agreement.
The General Release specifies that the franchisee, along with their successors, assigns, and affiliates, irrevocably releases Cinch I.T. and its affiliates from all claims, obligations, and causes of action arising from events prior to the date of the release. This includes any damages or losses related to the Franchise Agreement or the business operated under it. The release also includes a covenant not to sue Cinch I.T. regarding any claims being released.
However, the General Release does not apply to liabilities under the Maryland Franchise Registration and Disclosure Law or claims arising under the Washington Franchise Investment Protection Act. This means that franchisees in Maryland and Washington retain certain legal rights and protections despite signing the release. The inclusion of this General Release as an exhibit allows prospective franchisees to review the specific terms and understand the scope of the release before entering into a franchise agreement with Cinch I.T.