What is the 'Effective Date' of the Termination and Release Agreement for a Circle K franchise?
Circle_K Franchise · 2025 FDDAnswer from 2025 FDD Document
| THIS TERMINATION AND RELEASE AGREEMENT ("Agreement") is made and entered into by and between TMC Franchise Corporation ("Franchisor"), and ("Franchisee"). All capitalized terms not defined in this Agreement have the respective meanings set forth in the Franchise Agreement (as defined below). This Agreement is effective on the date Franchisor signs below (the "Effective Date"). |
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| RECITALS |
| A. |
Source: Item 23 — RECEIPTS (FDD pages 100–359)
What This Means (2025 FDD)
According to Circle K's 2025 Franchise Disclosure Document, the Effective Date for the Termination and Release Agreement is the date that TMC Franchise Corporation, the franchisor, signs the agreement. This means that the agreement becomes active and legally binding on both Circle K and the franchisee from the moment the franchisor signs it.
This is a standard clause in many franchise agreements, ensuring that all parties are clear on when the termination terms officially take effect. It's important for a franchisee to understand this, as it marks the point from which post-termination obligations, such as ceasing use of Circle K trademarks and returning operational manuals, come into force.
Furthermore, the agreement specifies that the franchisee releases Circle K from any claims related to the franchise agreement up to this Effective Date. Therefore, a franchisee should carefully review all aspects of their relationship with Circle K before this date to ensure they are satisfied with the terms of the termination and release.