What is the effect of the Developer's acknowledgements on the Franchisor's decision to enter into the Crawlspace Medic agreement?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
reto have executed this Multi-Unit Development Agreement in on the day and year first above written.
| FRANCHISOR: |
|---|
| CSM FRANCHISE GROUP, LLC |
| By: |
| Evan Wilson, President |
| DEVELOPER: |
| (Print Name) |
| DEVELOPER: |
| (Print Name) |
DEVELOPER ACKNOWLEDGEMENT STATEMENT
Developer hereby acknowledges the following:
Developer has conducted an independent investigation of all aspects relating to the financial, operational and other aspects of the business of developing the Crawlspace Medic outlets contemplated hereunder. Developer further acknowledges that, except as may be set forth in Franchisor's Disclosure Document, no representations of performance (financial or otherwise) for the Crawlspace Medic outlets to be developed hereunder has been made to Developer by Franchisor and Developer hereby waives any claim against Franchisor for any business failure Developer may experience as a developer under this Agreement.
_____ Initial
Developer agrees that no claims of success or failure have been made to him or her prior to signing this Agreement and that he/she understands all the terms and conditions of this Agreement. Developer further acknowledges that this Agreement contains all oral and written agreements, representations and arrangements between the parties hereto, and any rights which the respective parties hereto may have had under any other previous contracts are hereby cancelled and terminated, and that this Agreement cannot be changed or terminated orally; provided, however, nothing in this Multi-Unit Development Agreement or in any related agreement is intended to disclaim the representations made to Developer in Franchisor's Franchise Disclosure Document.
_____ Initial
Developer has no knowledge of any representations by Franchisor or its officers, directors, shareholders, employees, sales representatives, agents or servants, about the business contemplated by this Agreement that are contrary to the terms of this Agreement or the documents incorporated herein. Developer acknowledges that no representations or warranties are made or implied, except as specifically set forth herein.
Source: Item 22 — CONTRACTS (FDD page 42)
What This Means (2024 FDD)
According to Crawlspace Medic's 2024 Franchise Disclosure Document, the developer's acknowledgements play a significant role in the franchisor's decision to enter into the agreement. The developer acknowledges that they have conducted an independent investigation of the financial, operational, and other aspects of developing Crawlspace Medic outlets. This acknowledgement confirms that the developer is entering the agreement with a clear understanding of the business and its potential risks. Furthermore, the developer waives any claims against Crawlspace Medic for business failure, except for representations made in the Franchise Disclosure Document. This waiver limits the franchisor's liability and demonstrates the developer's acceptance of the inherent risks of the business.
The developer also acknowledges that no representations of performance (financial or otherwise) have been made by Crawlspace Medic, except as set forth in the Franchise Disclosure Document. This acknowledgement protects Crawlspace Medic from potential claims based on verbal or implied promises of financial success. The developer agrees that the agreement contains all oral and written agreements between the parties and that any prior agreements are cancelled. This clause ensures that the agreement is the sole source of obligations and rights for both parties, preventing disputes based on prior understandings.
Additionally, the developer represents that they have no knowledge of any representations by Crawlspace Medic that are contrary to the terms of the agreement. This representation serves as an inducement for Crawlspace Medic to enter into the agreement, as it confirms the developer's understanding and acceptance of the agreement's terms. Crawlspace Medic expressly disclaims any warranty or guarantee as to the potential volume, profits, or success of the business venture, and the developer acknowledges that they have not relied upon any such warranty or guarantee. This disclaimer further protects Crawlspace Medic from liability related to the developer's financial performance. These acknowledgements collectively provide Crawlspace Medic with assurance that the developer has entered the agreement with a full understanding of its terms, risks, and limitations, thereby influencing Crawlspace Medic's decision to proceed with the agreement.