Under what condition is a consent under the Crown Gold Exchange franchise agreement effective?
Crown_Gold_Exchange Franchise · 2024 FDDAnswer from 2024 FDD Document
- 18.5 Consent; Waiver. No consent under this Agreement, and no waiver of satisfaction of a condition or nonperformance of an obligation under this Agreement will be effective unless it is in writing and signed by the party granting the consent or waiver. No waiver by a party of any right will affect the party's rights as to any subsequent exercise of that right or any other right. No
Source: Item 22 — CONTRACTS (FDD pages 38–39)
What This Means (2024 FDD)
According to the 2024 Crown Gold Exchange Franchise Disclosure Document, any consent or waiver related to a condition or obligation within the franchise agreement is only considered effective if it is documented in writing and signed by the party providing the consent or waiver. This requirement ensures that all agreements and modifications are formally acknowledged and prevents misunderstandings based on verbal agreements.
This stipulation protects both Crown Gold Exchange and the franchisee by providing a clear record of any agreed-upon changes or waivers. It prevents either party from later claiming that a consent or waiver was granted without proper authorization. This is a standard practice in franchising to maintain clarity and avoid disputes.
For a prospective Crown Gold Exchange franchisee, this means that any deviations from the standard franchise agreement or any special arrangements must be documented in writing and signed by an authorized representative of Crown Gold Exchange to be considered valid. Franchisees should ensure they receive written confirmation for any exceptions or waivers they negotiate during the franchising process.