What does the Crawlspace Medic franchisee acknowledge regarding representations made by the franchisor?
Crawlspace_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
CRAWL SPACE MEDIC ACKNOWLEDGEMENT STATEMENT
Franchisee hereby acknowledges the following:
- Franchisee has conducted an independent investigation of all aspects relating to the financial, operational and other aspects of the business of operating the Franchised Business. Franchisee further acknowledges that, except as may be set forth in Franchisor's Disclosure Document, no representations of performance (financial or otherwise) for the Franchised Business provided for in this Agreement has been made to Franchisee by Franchisor and Franchisee and any and all Principals hereby waive any claim against Franchisor for any business failure Franchisee may experience as a franchisee under this Agreement.
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- Franchisee has conducted an independent investigation of the business contemplated by this Agreement and understands and acknowledges that the business contemplated by this Agreement involves business risks making the success of the venture largely dependent upon the business abilities and participation of Franchisee and its efforts as an independent business operation.
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- Franchisee agrees that no claims of success or failure have been made to it or him or her prior to signing the Franchise Agreement and that it/she/he understands all the terms and conditions of the Franchise Agreement. Franchisee further acknowledges that the Franchise 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.
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- Franchisee has no knowledge of any representations by Franchisor or its officers, directors, shareholders, employees, sales representatives, agents or servants, about the business contemplated by the Franchise Agreement that are contrary to the terms of the Franchise Agreement or the documents incorporated herein. Franchisee acknowledges that no representations or warranties are made or implied, except as specifically set forth in the Franchise Agreement. Franchisee represents, as an inducement to Franchisor's entry into this Agreement, that it has made no misrepresentations in obtaining the Franchise Agreement.
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 40–42)
What This Means (2024 FDD)
According to the 2024 Crawlspace Medic Franchise Disclosure Document, franchisees acknowledge several key points regarding representations made by the franchisor. Specifically, the franchisee confirms they have conducted their own independent investigation into the financial, operational, and other aspects of operating a Crawlspace Medic franchise. They also acknowledge that, except as explicitly stated in the Franchise Disclosure Document, Crawlspace Medic has not made any representations of performance, financial or otherwise, for the franchised business. The franchisee waives any claims against Crawlspace Medic for business failure, except for representations within the FDD itself.
Furthermore, the franchisee agrees that no claims of success or failure have been made to them prior to signing the Franchise Agreement. They understand and acknowledge that the success of the Crawlspace Medic venture depends largely on their own business abilities and efforts as an independent business operation. The franchisee also acknowledges that the Franchise Agreement contains all oral and written agreements between the parties, superseding any previous contracts, and that the agreement cannot be changed or terminated orally.
Additionally, the franchisee confirms they have no knowledge of any representations made by Crawlspace Medic or its representatives that contradict the terms of the Franchise Agreement or its incorporated documents. They acknowledge that no representations or warranties are made or implied, except as specifically outlined in the Franchise Agreement. This acknowledgement serves as an inducement for Crawlspace Medic to enter into the agreement, with the franchisee representing that they have not made any misrepresentations in obtaining the Franchise Agreement.
In essence, these acknowledgements protect Crawlspace Medic from claims based on verbal promises or representations made outside of the official Franchise Disclosure Document and Franchise Agreement. It emphasizes the importance of the franchisee conducting thorough due diligence and understanding that their success is largely dependent on their own efforts and abilities. This is a common practice in franchising, ensuring both parties have a clear understanding of the terms and expectations of the franchise relationship.