What consideration is mentioned for the Crave Food Truck Addendum?
Crave Franchise · 2025 FDDAnswer from 2025 FDD Document
NOW, THEREFORE, in consideration of the mutual promises contained in the Franchise Agreement and this Addendum, and for good and valuable considerations in hand paid by each of the parties to the others, the receipt and sufficiency of which the parties acknowledge, the parties agree as follows:
Source: Item 23 — RECEIPTS (FDD pages 63–253)
What This Means (2025 FDD)
According to Crave's 2025 Franchise Disclosure Document, the consideration for the Food Truck Addendum includes the mutual promises outlined in both the Franchise Agreement and the Addendum itself, along with other good and valuable considerations exchanged between Crave and the franchisee. This indicates that both parties are agreeing to certain obligations and receiving benefits as part of this agreement.
In practical terms, this means that the franchisee's agreement to operate the Crave franchise from a food truck, and Crave's consent to allow this operation, are both key elements of the consideration. The franchisee benefits from the right to operate a Crave franchise from a food truck, while Crave benefits from the franchisee's commitment to uphold the brand's standards and operate the food truck in accordance with the agreement.
The phrase "good and valuable considerations in hand paid by each of the parties to the others, the receipt and sufficiency of which the parties acknowledge" suggests that there may be additional, unspecified considerations beyond the mutual promises. These could include monetary payments, specific performance obligations, or other benefits that are not explicitly detailed in this section but are acknowledged as part of the overall agreement. Prospective franchisees should seek clarification from Crave regarding any additional considerations associated with the Food Truck Addendum to fully understand their obligations and benefits.