Does the City Publications franchisee acknowledge receiving, reading, and understanding the franchise agreement and the Franchisor's Uniform Franchise Offering Circular?
City_Publications Franchise · 2025 FDDAnswer from 2025 FDD Document
es.
SECTION 25. ACKNOWLEDGMENTS
A. Receipt of Agreement
Franchisee represents and acknowledges that it has received, read and understood this Agreement and Franchisor's Uniform Franchise Offering Circular; and that Franchisor has accorded Franchisee ample time and opportunity to consult with
advisors of its own choosing about the potential benefits and risks of entering into this Agreement.
B. Receipt of Franchise Disclosure Document
Franchisee acknowledges that Franchisee has received the Franchise Disclosure Document at least ten (10) days prior to the date on which this Agreement was executed.
C. Consultation by Franchisee
Franchisee has been advised to consult with its own advisors with respect to the legal, financial and other aspects of this Agreement, the business franchised hereby and the prospects for that business. Franchisee has either consulted with such advisors or has deliberately declined to do so.
D. True & Accurate Information
Franchisee affirms that all information set forth in any and all applications, financial statements and submissions to Franchisor is true, complete and accurate in all respects, with Franchisee expressly acknowledging that Franchisor is relying upon the truthfulness, completeness and accuracy of such information.
**E.
Source: Item 23 — RECEIPT (FDD pages 39–129)
What This Means (2025 FDD)
According to City Publications' 2025 Franchise Disclosure Document, the franchisee acknowledges receiving the Franchise Disclosure Document (FDD) at least ten days before the franchise agreement is executed. This acknowledgment confirms that the franchisee has been given the opportunity to review the document, which summarizes the franchise agreement and other pertinent information.
Furthermore, the franchisee is advised to seek advice from their own advisors regarding the legal, financial, and other aspects of the agreement and the franchised business. The franchisee confirms they have either consulted with advisors or have deliberately chosen not to do so. This acknowledgement is crucial, as it indicates the franchisee is entering the agreement with an understanding of its implications, whether through professional advice or their own volition.
Additionally, the franchisee affirms that all information provided in applications, financial statements, and submissions to City Publications is true, complete, and accurate. The franchisee acknowledges that City Publications relies on the accuracy of this information. This clause underscores the importance of transparency and honesty in the franchisee's dealings with City Publications, as any misrepresentation could have legal and financial repercussions.
Finally, the FDD stipulates that the franchisee acknowledges that they have not received or relied on any guarantee, express or implied, as to the revenues, profits, or likelihood of success of the franchised business. The franchisee also acknowledges that there have been no representations by City Publications' directors, employees, or agents that are not contained in, or inconsistent with, the statements made in the Uniform Franchise Offering Circular or with the provisions of the agreement. This statement aims to prevent franchisees from claiming they were misled by verbal promises or guarantees not documented in the official franchise documents.