How many counterparts can the Cool Binz Mutual Release be signed in?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
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- This Release may be signed in two (2) or more counterparts, and will be effective when all the parties and signatories have affixed their signatures to two (2) or more of the counterparts and they have been delivered as aforesaid, at which time the counterparts together will be deemed one (1) original document.
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- The terms of this Mutual Release shall remain confidential and may not be disclosed except when and to the extent necessary to comply with applicable federal, state, or local laws or regulations.
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- This Agreement contains the entire agreement between the parties hereto concerning the resolution of any and all disputes or controversies between or among them.
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- [MARYLAND ONLY] This Mutual Release may not apply to any liability under the Maryland Franchise Registration and Disclosure Law.
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- [WASHINGTON ONLY]. This Mutual Release does not apply to claims arising under the Franchise Investment Protection Act, chapter 19.100 RCW, or any rules or order adopted thereunder, in accordance with RCW 19.100.220(2).
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to the 2025 Cool Binz FDD, the Mutual Release can be signed in two or more counterparts. This means that the agreement does not require all parties to sign the same physical document. Instead, separate copies can be signed and then assembled to form a complete agreement. This is a common practice to expedite the signing process, especially when parties are geographically separated. The agreement becomes effective once all parties have signed at least two counterparts and these have been delivered. At that point, all the counterparts are considered a single original document.
This flexibility simplifies the logistics of obtaining signatures, as each party can sign a copy in their location and then transmit it to the other parties. This can be particularly useful in franchise agreements, where the franchisor and franchisee may be located in different states or even countries. The FDD also notes that the Mutual Release contains the entire agreement between the parties concerning the resolution of any and all disputes or controversies between or among them.
However, prospective Cool Binz franchisees should note that the Mutual Release may not apply to liability under the Maryland Franchise Registration and Disclosure Law, or to claims arising under the Franchise Investment Protection Act in Washington. It is important for franchisees to consult with legal counsel to understand the implications of the Mutual Release in their specific jurisdiction.