Does the Cool Binz agreement state that I have not received any express or implied representations or warranties regarding the sales, earnings, income, profits, gross revenues, business or financial success, value of the franchise?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
You acknowledge that you have not received any express or implied representations or warranties regarding the sales, earnings, income, profits, gross revenues, business or financial success, value of the franchise, provided by us or our representatives or any other matters pertaining to the franchise from us or any of our officers, employees or agents that were not contained in this Agreement or the Franchise Disclosure Document received by you (hereinafter "Representations"). You further acknowledge that if you had received any such Representations, you would not have executed this Agreement, and you would have: (a) promptly notified us in writing of the person or persons making such Representations; and (b) provided to us a specific written statement detailing the Representations made. You acknowledge that we justifiably have relied on your representations made before the execution of this Agreement.
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, the franchise agreement includes an acknowledgement that you have not received any express or implied representations or warranties regarding the sales, earnings, income, profits, gross revenues, business or financial success, or value of the franchise from Cool Binz or its representatives, unless such representations are contained within the Franchise Agreement or the Franchise Disclosure Document itself.
This acknowledgement is a standard clause in franchise agreements. It aims to protect Cool Binz from potential claims based on verbal promises or projections made during the sales process that are not formally documented. It reinforces that the prospective franchisee is relying solely on the information provided in the official documents and their own independent investigation.
The agreement further stipulates that if you did receive any such representations, you would have notified Cool Binz in writing, detailing the representations made and by whom. This clause places a responsibility on the franchisee to promptly report any unauthorized or undocumented claims made during the franchise sales process. By signing the agreement, you acknowledge that Cool Binz has justifiably relied on your representations made before the execution of the agreement.