Can the Degree Wellness Franchise Agreement be executed in counterparts?
Degree_Wellness Franchise · 2025 FDDAnswer from 2025 FDD Document
- 16.8 This Agreement may be executed in one or more counterparts, including by facsimile or electronic signature included in an Adobe PDF file, each of which shall be an original and all of which together shall constitute one and the same agreement. The execution of counterparts shall not be deemed to constitute delivery of this Agreement by any party until all of the parties have executed and delivered their respective counterparts.
Source: Item 20 — OUTLETS AND FRANCHISEE INFORMATION (FDD pages 63–66)
What This Means (2025 FDD)
According to Degree Wellness's 2025 Franchise Disclosure Document, the Studio Management Agreement can be executed in counterparts. This means that the agreement does not require all parties to sign the same physical document. Instead, each party can sign a separate copy (or "counterpart") of the agreement, and all of these separate copies together constitute one single, binding agreement.
This flexibility extends to the method of signing, as the agreement allows for signatures to be exchanged via facsimile or as an electronic signature included in an Adobe PDF file. Each counterpart, whether a physical copy or an electronic version, is considered an original. All the counterparts, taken together, form the complete agreement.
However, the document specifies that the execution of counterparts does not constitute delivery of the agreement until all parties have signed and delivered their respective counterparts. This means that the agreement is not considered fully executed and binding until each party has completed their signing and provided their signed copy to the other parties. This is a fairly standard clause in franchise agreements, allowing for ease of execution when parties are geographically separated.