What is the date on which the City Wide addendum is made and entered into?
City_Wide Franchise · 2025 FDDAnswer from 2025 FDD Document
| This | Franchise Accounting Services Agreement ("Agreement") dated is | |
|---|---|---|
| entered into by and between by and between City Wide Franchise Company, Inc. ("City Wide") and | ||
| ("Franchisee") | or | |
| (City |
Source: Item 22 — CONTRACTS (FDD page 65)
What This Means (2025 FDD)
According to City Wide's 2025 Franchise Disclosure Document, the Franchise Accounting Services Agreement is dated and entered into by and between City Wide Franchise Company, Inc. and the franchisee. However, the specific date is not provided in the excerpt.
The agreement outlines the terms and conditions under which City Wide will provide accounting and financial services to the franchisee. These services are based on selected accounting packages detailed in Exhibit A of the agreement. The agreement clarifies that City Wide is not responsible for the franchisee's debts or financial obligations, and is not obligated to contribute funds if the franchisee faces cash flow issues.
The term of the agreement varies based on whether the franchisee is new, existing, or interim, with options for thirty days prior to opening, thirty days after receiving three billing cycles, or as agreed in Exhibit B. The initial term is twelve months, with automatic six-month renewal terms unless terminated.
Prospective franchisees should ask City Wide for the specific date on which the addendum is made and entered into, as this information is crucial for understanding the agreement's timeline and obligations.