What specific agreements does Deka Lash require franchisees to confirm they have reviewed?
Deka_Lash Franchise · 2024 FDDAnswer from 2024 FDD Document
EXHIBIT F-5 CLOSING ACKNOWLEDGMENTS
Not to be used as to any franchise sale in or to residents of CA, HI, IL, IN, MD, MI, MN, NY, ND, RI, SD, VA, WA, WI]
Do not sign the Closing Acknowledgments if you are a resident of Maryland or the franchise is to be operated in Maryland.
DL FRANCHISING, LLC ("Deka Lash") ("we/us"), through the use of this Franchisee Closing Acknowledgement, desires clarify and confirm your understanding and acceptance of the terms of the agreements, to verify certain information about the sales process, and to confirm that we and our employees have complied with applicable franchise disclosure laws and have not authorized anything that may be untrue, inaccurate or misleading. We further desire to confirm that you fully understand that the purchase of a Deka Lash franchise is a business decision involving the evaluation of many risks. Our policy is to verify and confirm that in making your decision you are not relying upon any oral statement, representation, promise or assurance made during the negotiations for the purchase of a Deka Lash franchise by any of our directors, officers, employees, agents, or representatives (each, a "Representative") that is not specifically reported in our then-current Franchise Disclosure Document, including all of the exhibits attached to it (the "Franchise Disclosure Document"). Please review each of the following questions and statements and INITIAL ONLY IF YOU AGREE WITH SUCH. IF YOU DO NOT AGREE WITH THE FOLLOWING, DO NOT SIGN YOUR FRANCHISE AGREEMENT.
- I have personally and carefully reviewed the Franchise Disclosure Document and Deka Lash Franchise Agreement and understand the terms, conditions, and obligations of these agreements.
Source: Item 23 — RECEIPT (FDD pages 63–234)
What This Means (2024 FDD)
According to the 2024 Deka Lash Franchise Disclosure Document, franchisees must confirm they have carefully reviewed the Franchise Disclosure Document and the Deka Lash Franchise Agreement and that they understand the terms, conditions, and obligations outlined in these agreements. This confirmation is documented in Exhibit F-5, the Closing Acknowledgments form.
This requirement ensures that franchisees are fully aware of their rights and responsibilities before entering into the franchise agreement. By initialing each statement on the Closing Acknowledgments form, the franchisee acknowledges their understanding and acceptance of the agreement's terms. This process aims to prevent misunderstandings or disputes that may arise later due to a lack of awareness of the contractual obligations.
However, it's important to note that the Closing Acknowledgments form explicitly states that it should not be used for franchise sales in or to residents of California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, or Wisconsin. This suggests that Deka Lash may have different procedures or forms for franchisees in those states to ensure compliance with their specific franchise laws. Prospective franchisees should carefully review all documents and seek legal counsel to fully understand their obligations before signing any agreements.