What happens to the Renewal Addendum once it is completed for the Circle K franchise?
Circle_K Franchise · 2025 FDDAnswer from 2025 FDD Document
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EXHIBIT K
Renewal Addendum
RENEWAL ADDENDUM TO FRANCHISE AGREEMENT
This Renewal Addendum to Franchise Agreement (the "Renewal Addendum") is by and between TMC Franchise Corporation ("Franchisor"), and ("Franchisee") and is entered into and made effective as of the date Franchisor
Source: Item 22 — CONTRACTS (FDD page 100)
What This Means (2025 FDD)
According to the 2025 Circle K Franchise Disclosure Document, the Renewal Addendum is an agreement between TMC Franchise Corporation (the franchisor) and the franchisee. Once completed, the Renewal Addendum becomes effective as of the date the franchisor signs it. This date is referred to as the "Effective Date."
The Renewal Addendum modifies the original Franchise Agreement. If any terms in the Renewal Addendum conflict with the original Franchise Agreement, the terms of the Renewal Addendum will take precedence. This ensures that the renewal process is governed by the most current and relevant terms agreed upon by both parties.
The Renewal Addendum itself is listed as Exhibit K in the FDD, indicating its importance as a formal part of the franchise agreement. Prospective franchisees should carefully review this addendum, along with the other exhibits, to fully understand their rights and obligations upon renewal. Understanding the interplay between the original agreement and any addenda is crucial for a successful franchise operation.