In the Counselor Realty Franchise Agreement, what does 'Effective Date' refer to?
Counselor_Realty Franchise · 2025 FDDAnswer from 2025 FDD Document
| FRANCHISE AGREEMENT dated , | (the |
|---|---|
| "Effective Date"), between COUNSELOR REALTY FRANCHISING, INC. (together with its | |
| affiliates, "COUNSELOR" or "we"), and | |
| of | |
| , | |
| , | |
| ("Franchisee" or "you"). |
Source: Item 22 — CONTRACTS (FDD page 32)
What This Means (2025 FDD)
According to the 2025 Counselor Realty Franchise Disclosure Document, the 'Effective Date' refers to the date of the Franchise Agreement. The Franchise Agreement document specifies a space for the date, which it refers to as the "Effective Date". This date marks the commencement of the agreement between Counselor Realty Franchising, Inc. and the franchisee.
The initial term of the Counselor Realty Franchise Agreement begins on the Effective Date and lasts for five years. This means that all obligations and rights under the agreement become active from this date, and the franchisee can begin operating under the Counselor Realty brand, provided all other conditions are met.
It is important for prospective Counselor Realty franchisees to understand the implications of the Effective Date, as it triggers the start of their franchise term and associated responsibilities. Paying close attention to this date ensures clarity regarding the duration of the franchise agreement and the deadlines for any renewal options.