For Dollar Rent A Car, who must agree to an amendment for it to be binding?
Dollar_Rent_A_Car Franchise · 2025 FDDAnswer from 2025 FDD Document
In recognition of the requirements of the North Dakota Franchise Investment Law, N.D. Cent. Code, §§ 51-19-01 through 51-19-17, and the policies of the office of the State of North Dakota Securities Commission, the parties to the attached Franchise Agreement (the "Agreement") agree to amend the Agreement as follows (the "Amendment"). Capitalized terms not defined in this Amendment have the meanings they are assigned in the Agreement.
Source: Item 23 — RECEIPTS (FDD pages 102–301)
What This Means (2025 FDD)
Based on the 2025 Dollar Rent A Car Franchise Disclosure Document, amendments to the Franchise Agreement require agreement from both parties involved in the agreement. Specifically, in the state of North Dakota, the Dollar Rent A Car franchise agreement is amended in recognition of the requirements of the North Dakota Franchise Investment Law. The agreement states that the parties to the attached Franchise Agreement agree to amend the Agreement.
This means that for any changes or modifications to the original franchise agreement to be legally binding, both Dollar Rent A Car and the franchisee must consent to and agree upon the terms of the amendment. This ensures that both parties are in accord with any changes to their contractual obligations and rights.
This requirement protects both the franchisee and Dollar Rent A Car by ensuring mutual understanding and agreement on any changes to the franchise relationship. It prevents unilateral changes that could disadvantage either party and maintains a balanced and transparent business relationship. Franchisees should carefully review any proposed amendments and seek legal counsel if needed to fully understand the implications before agreeing to them.