What article in the Crawlspace Medic Franchise Agreement specifies the length of the franchise term?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
| Provision | Section in Franchise Agreement | Summary | |
|---|---|---|---|
| a. | Length of the franchise term | Art. 4 | Term is five years |
| b. | Renewal or extension of the Term | Sections 5.1 and 5.4 | If you are in good standing as defined below, you can sign a successor agreement for three (3) additional terms of five (5) years, unless we have determined, in our sole discretion, to withdraw from your Territory |
Source: Item 17 — RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION (FDD pages 33–38)
What This Means (2024 FDD)
According to Crawlspace Medic's 2024 Franchise Disclosure Document, the length of the franchise term is specified in Article 4 of the Franchise Agreement. The initial term for a Crawlspace Medic franchise is five years.
Upon completion of the initial term, a franchisee in good standing has the option to sign a successor agreement. This agreement allows for three additional terms, each lasting five years.
However, Crawlspace Medic retains the discretion to withdraw from a franchisee's territory when the term is up for renewal. This decision is solely at the discretion of Crawlspace Medic, which means that even if a franchisee is in good standing, renewal is not guaranteed.