What is the purpose of the acknowledgment of receipt of the Crave Disclosure Document?
Crave Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisee acknowledges that it has received the CRAVE Franchising, LLC Franchise Disclosure Document with a complete copy of the Franchise Agreement and all related Attachments and agreements at least fourteen (14) calendar days prior to the date on which the Franchise Agreement was executed. Franchisee further acknowledges that Franchisee has read such Franchise Disclosure Document and understands its contents.
Initial
- Franchisee acknowledges that it has had ample opportunity to consult with its own attorneys, accountants and other advisors and that the attorneys for Franchisor have not advised or represented Franchisee with respect to the Franchise Agreement or the relationship thereby created.
Initial
- Franchisee, together with Franchisee's advisers, has sufficient knowledge and experience in financial and business matters to make an informed investment decision with respect to the Franchise granted by the Franchise Agreement.
Initial
- Franchisee is aware of the fact that other present or future franchisees of Franchisor may operate under different forms of agreement(s), and consequently that Franchisor's obligations and rights with respect to its various franchisees may differ materially in certain circumstances.
Source: Item 23 — RECEIPTS (FDD pages 63–253)
What This Means (2025 FDD)
According to Crave's 2025 Franchise Disclosure Document, the acknowledgment of receipt confirms that the franchisee received the Franchise Disclosure Document (FDD) with a complete copy of the Franchise Agreement and all related attachments at least fourteen calendar days before the Franchise Agreement was executed. By signing the acknowledgement, the franchisee verifies they have read the FDD and understand its contents. Crave requires two copies of the acknowledgement, one to be returned to Crave and the other to be retained by the franchisee for their records.
The acknowledgement also confirms that the franchisee had ample opportunity to consult with their own attorneys, accountants, and other advisors, and that Crave's attorneys did not advise or represent the franchisee. It also verifies that the franchisee, along with their advisors, possesses sufficient knowledge and experience in financial and business matters to make an informed investment decision regarding the franchise.
Furthermore, the franchisee acknowledges awareness that other present or future Crave franchisees may operate under different forms of agreement(s), leading to potentially different obligations and rights between Crave and its various franchisees. However, in certain states like Maryland, the Acknowledgment Statement included in Exhibit I of the Franchise Disclosure Document does not apply, and franchisees in those states should not sign the acknowledgments. Additionally, no statement, questionnaire, or acknowledgment signed by a franchisee can waive claims under state franchise law or disclaim reliance on statements made by Crave.