Who is responsible for preparing the separate document for modifications to the Counselor Realty franchise agreement?
Counselor_Realty Franchise · 2025 FDDAnswer from 2025 FDD Document
- 13.2 Governing Law. This Agreement is made in Minnesota and shall be governed by Minnesota law (except that the Minnesota Franchise Law (Minn. Stat. Chapter 80C) shall apply only to Minnesota franchisees). This Agreement may be waived, modified or varied only by a writing signed by the parties on a separate document prepared by us. Acquiescence in or waiver of any breach is not a waiver of any other or subsequent breach. No custom, practice or course of dealing constitutes a waiver of any provision of this Agreement.
Source: Item 22 — CONTRACTS (FDD page 32)
What This Means (2025 FDD)
According to the 2025 Counselor Realty Franchise Disclosure Document, Counselor Realty is responsible for preparing any separate document that modifies the franchise agreement. The document states that the franchise agreement can only be waived, modified, or varied by a written document signed by both parties, and that this document must be prepared by Counselor Realty. This ensures that any changes to the original agreement are formally documented and agreed upon by both the franchisor and the franchisee.
This provision protects both Counselor Realty and the franchisee by ensuring that all modifications are in writing and properly authorized. It prevents misunderstandings or disputes that could arise from verbal agreements or informal changes to the franchise agreement. It also ensures that Counselor Realty maintains control over the terms of its franchise agreements, which is important for maintaining consistency and uniformity across the franchise system.
For a prospective Counselor Realty franchisee, this means that any desired changes to the franchise agreement must be negotiated with Counselor Realty and documented in a separate written agreement prepared by them. Franchisees should carefully review any proposed modifications with legal counsel to ensure they understand the implications of the changes. This clause highlights the importance of clear communication and documentation in the franchise relationship.