What agreement does the Crawlspace Medic Successor Franchise Agreement supersede?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
5.2.3 Franchisee will have completed any required additional training to Franchisor's reasonable satisfaction.
5.2.4 Franchisee shall have completed any required updates to the Franchised Business location in order to meet system standards.
5.2.5 Franchisee shall execute a general release of all claims Franchisee may have against CSM Franchise Group, LLC, its parent, subsidiaries and affiliates, its officers, directors, shareholders, agents, and employees, whether in their corporate and/or individual capacities.
This release will include all claims arising under any federal, state, or local law, rule, or ordinance.
5.2.6 Franchisee performs such remodeling, repairs, replacements and redecoration as Franchisor may require causing the Franchised Business location, equipment, and trade dress to conform to the plans and specifications being used for new franchised businesses on the renewal date.
5.2.7 Franchisee shall pay the required Successor Fee and sign the Successor Franchise Agreement.
Source: Item 22 — CONTRACTS (FDD page 42)
What This Means (2024 FDD)
According to the 2024 Crawlspace Medic Franchise Disclosure Document, the Successor Franchise Agreement supersedes the original franchise agreement when a franchisee renews their term. In order to renew their franchise agreement, a Crawlspace Medic franchisee must meet several conditions.
These conditions include completing any required additional training to the franchisor's satisfaction and completing any necessary updates to the franchised business location to meet system standards. The franchisee must also execute a general release of all claims against CSM Franchise Group, LLC, its parent, subsidiaries, affiliates, officers, directors, shareholders, agents, and employees. This release covers all claims arising under any federal, state, or local law, rule, or ordinance.
Additionally, the franchisee must perform any remodeling, repairs, replacements, and redecoration required by Crawlspace Medic to ensure the franchised business location, equipment, and trade dress conform to the standards for new franchised businesses on the renewal date. Finally, the franchisee is required to pay the Successor Fee and sign the Successor Franchise Agreement, thereby replacing the original agreement with the new one.