Must Deck Medic franchise Owners be in compliance with their agreements to renew the franchise?
Deck_Medic Franchise · 2024 FDDAnswer from 2024 FDD Document
| Provision | Article in | in Summary | |
|---|---|---|---|
| Franchise Agreement | |||
| a. Length of the franchise term | 2.B. | The term of your Franchise Agreement is 10 years. | |
| b. Renewal or extension of the term | 15 | If you meet our conditions for renewal, you may renew your franchise for up to one additional 10 year renewal terms, for a maximum total of 10 years in addition to your initial 10 year term. | |
| c. Requirements for franchisee to renew or extend | 15 | To renew your franchise, you must be in compliance with the terms of your Franchise Agreement, provide us with 180 days prior written notice of your request to renew, sign our then current form of Franchise Agreement and related agreements for the renewal term, sign a general release in our favor, pay a renewal fee, and meet all other renewal requirements contained in the Franchise Agreement. Your Owners must be in compliance with their agreements with |
Source: Item 17 — RENEWAL, TERMINATION, TRANSFER AND DISPUTE RESOLUTION (FDD pages 34–39)
What This Means (2024 FDD)
According to Deck Medic's 2024 Franchise Disclosure Document, to renew a franchise agreement, franchisees must be in compliance with the terms of their existing Franchise Agreement. The initial term of the Franchise Agreement is 10 years, and franchisees who meet the conditions for renewal can renew for one additional 10-year term.
In addition to being in compliance with the existing agreement, franchisees must provide Deck Medic with written notice of their intent to renew at least 180 days before the current term expires. They must also sign the then-current form of the Franchise Agreement and any related agreements for the renewal term, as well as a general release in favor of Deck Medic.
Furthermore, franchisees must pay a renewal fee and meet all other renewal requirements outlined in the Franchise Agreement. Compliance extends to the franchisee's Owners, who must also be in compliance with their agreements with Deck Medic.