Does the Dryer Vent Squad agreement state that I have elected to enter into the agreement based on my own decision?
Dryer_Vent_Squad Franchise · 2024 FDDAnswer from 2024 FDD Document
WHEREAS, you have received and have thoroughly reviewed the completed Franchise Agreement, including Schedules and Exhibits attached to the Franchise Agreement;
WHEREAS, we have recommended that you thoroughly review the Franchise Agreement, this Agreement and all exhibits and schedules to the Franchise Agreement with a lawyer selected and hired by you;
WHEREAS, you acknowledge that we are relying on this Agreement and that without this Agreement we would not have entered into and/or would not be simultaneously entering into the Franchise Agreement with Franchisee.
Source: Item 23 — RECEIPTS (FDD pages 51–207)
What This Means (2024 FDD)
According to the 2024 Dryer Vent Squad FDD, the agreement includes recitals where the franchisee acknowledges they have thoroughly reviewed the Franchise Agreement, including all schedules and exhibits. Dryer Vent Squad also states that they recommend the franchisee review the agreement with a lawyer of their choosing. The franchisee also acknowledges that Dryer Vent Squad is relying on the agreement and would not enter into the Franchise Agreement without it.
This indicates that the franchisee is entering into the agreement based on their own review and understanding, with the recommendation to seek independent legal counsel. By signing, the franchisee confirms they have examined the documents and are aware of the obligations and commitments they are undertaking.
This type of clause is standard in franchise agreements to ensure that franchisees are making an informed decision and cannot later claim they were unaware of the agreement's terms. It emphasizes the importance of due diligence and seeking professional advice before committing to the franchise.