For Crown Gold Exchange, what is amended by both the Maryland and Minnesota Riders?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
hisee that is indeterminate, determined by a third party, or determined by a formula, unless the franchise agreement specifies the maximum percentage of gross monthly sales or the maximum absolute sum that the franchisee may be required to pay.
- 3. Effective Date. This Rider is effective as of the Effective Date.
Agreed to by:
GOLDMEMBER, LLC
MARYLAND RIDER TO FRANCHISE AGREEMENT AND MULTI-UNIT DEVELOPMENT AGREEMENT
This Rider amends the Franchise and Multi-Unit Development Agreement dated (the "Agreement"), between Goldmember, LLC, a Idaho limited liability company ("Crown Gold Franchising") and, a ("Franchisee"). 1. Definitions. Disclosure Law, Business Regulation Article, §14-206, Annotated Code of Maryland. Capitalized terms used but not defined in this Rider have the meanings given in the Agreement. The "Maryland Franchise Law" means the Maryland Franchise Registration and 2. Releases, Estoppels and Waivers of Liability. act as a release, estoppel or waiver of any liability incurred under the Maryland Franchise Law. All representations requiring prospective franchisees to assent to a release, estoppel or waiver of liability are not intended to nor shall they 3. which provides for a period of Statute of Limitations. Any provision of the Agreement limitations for causes of action shall not apply to causes of action under the Maryland Franchise an action under such law within three years after the grant of the franchise. Law, Business Regulation Article, §14-227, Annotated Code of Maryland. Franchisee must bring 4. Jurisdiction. Franchisee does not waive its right to file a lawsuit alleging a cause of action Maryland. arising under the Maryland Franchise Law in any court of competent jurisdiction in the State of 5. Effective Date. This Rider is effective as of the Effective Date. Agreed to by: GOLDMEMBER, LLC Date:
Date:
MINNESOTA RIDER TO FRANCHISE AND MULTI-UNIT DEVELOPMENT AGREEMENT
This Rider amends the Franchise and Multi-Unit Development Agreement dated (the "Agreement"), between Goldmember, LLC, a Idaho limited liability company ("Crown Gold Franchising") and, a ("Franchisee").
- 1. Definitions. Capitalized terms used but not defined in this Rider have the meanings given in the Agreement.
Source: Item 22 — CONTRACTS (FDD pages 38–39)
What This Means (2024 FDD)
According to the 2024 Franchise Disclosure Document, both the Maryland and Minnesota Riders amend the Franchise and Multi-Unit Development Agreement for Crown Gold Exchange.
Specifically, the Maryland Rider addresses aspects of the Maryland Franchise Law, including stipulations that the agreement does not act as a release, estoppel, or waiver of liability under that law. It also states that any limitations on causes of action within the agreement do not apply to causes of action under the Maryland Franchise Law, and that franchisees do not waive their right to file lawsuits in Maryland courts regarding causes of action arising from that law.
Similarly, the Minnesota Rider amends the agreement to comply with Minnesota Statutes, Sections 80C.01 to 80C.22, referred to as the "Minnesota Act." Both riders also include definitions of terms used within the rider, referencing the original agreement for terms not specifically defined in the rider itself. These riders are effective as of the effective date of the franchise agreement.