Who are the parties required to sign the addendum receipt for Cool Binz?
Cool_Binz Franchise · 2025 FDDAnswer from 2025 FDD Document
NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledges by each of the parties signing below, it is hereby agreed and understood that the following will supersede the Sections of the Franchise Agreement listed below:
Source: Item 23 — RECEIPTS (FDD pages 63–238)
What This Means (2025 FDD)
According to Cool Binz's 2025 Franchise Disclosure Document, the addendum to the franchise agreement is signed by both the Franchisor and the Franchisee. The document states that the receipt and sufficiency of the consideration for the addendum is acknowledged by each of the parties signing below.
This means that both Cool Binz as the franchisor and the individual or entity becoming a franchisee must sign the addendum to indicate their agreement to its terms. This is a standard practice in franchising to ensure that all parties are aware of and consent to any changes or additions to the original franchise agreement.
Prospective franchisees should carefully review any addenda to the franchise agreement and seek legal counsel to fully understand their rights and obligations before signing. This ensures that both Cool Binz and the franchisee are in agreement with any modifications to the original contract.