factual

Where can I find the current form of release for a Closet Storage Concepts franchise?

Closet_Storage_Concepts Franchise · 2025 FDD

Answer from 2025 FDD Document

Our current form of release is attached to this Agreement as Exhibit "5".

Source: Item 22 — CONTRACTS (FDD page 59)

What This Means (2025 FDD)

According to Closet Storage Concepts's 2025 Franchise Disclosure Document, the current form of release is included as an exhibit to the franchise agreement. Specifically, the FDD states that the current form of release is attached to the agreement as Exhibit "5".

This form is relevant when a franchisee exercises their option to renew the franchise agreement. As part of the renewal conditions, the franchisee must execute a release of all claims against Closet Storage Concepts and its affiliates. The release must be in the specific language and form that Closet Storage Concepts chooses. However, the release cannot waive any liabilities that are specifically protected by state statutes regulating franchising.

Prospective franchisees should carefully review Exhibit "5" to understand the scope of the release and the claims they will be waiving upon renewal. Franchisees should consult with a legal professional to fully understand the implications of signing the release, especially concerning their rights under applicable state franchise laws.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.