Where in the Dryer Vent Squad FDD can I find the detachable receipt?
Dryer_Vent_Squad Franchise · 2024 FDDAnswer from 2024 FDD Document
[Item 23: RECEIPTS]
No entity or person listed in Items 1 and 2 of this Disclosure Document has, at any time during the previous 10 fiscal years (a) filed for bankruptcy protection, (b) been adjudged bankrupt, (c) been reorganized due to insolvency, or (d) been a principal, director, executive officer or partner of any other person that has so filed or was adjudged or reorganized, during or within one year after the period that the person held a position with the other person.
Hawaii FDD Amendment
Amendments to the Dryer Vent Squad Franchise Disclosure Document
Exhibit J "FDD Receipts," is supplemented with the addition of the following:
The Receipt for this Disclosure Document (Exhibit "J") is supplemented to add the following:
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- THIS FRANCHISE WILL BE/HAVE BEEN FILED UNDER THE FRANCHISE INVESTMENT LAW OF THE STATE OF HAWAII. FILING DOES NOT CONSTITUTE APPROVAL, RECOMMENDATION OR ENDORSEMENT BY THE DIRECTOR OF COMMERCE AND CONSUMER AFFAIRS OR A FINDING BY THE DIRECTOR OF COMMERCE AND CONSUMER AFFAIRS THAT THE INFORMATION PROVIDED HEREIN IS TRUE, COMPLETE AND NOT MISLEADING.
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- THE FRANCHISE INVESTMENT LAW MAKES IT UNLAWFUL TO OFFER OR SELL ANY FRANCHISE IN THIS STATE WITHOUT FIRST PROVIDING TO THE PROSPECTIVE FRANCHISEE, OR SUBFRANCHISOR, AT LEAST SEVEN DAYS BEFORE THE EXECUTION BY THE PROSPECTIVE FRANCHISEE, OF ANY BINDING FRANCHISE OR OTHER AGREEMENT, OR AT LEAST SEVEN DAYS BEFORE THE PAYMENT OF ANY CONSIDERATION BY THE FRANCHISEE, OR SUBFRANCHISOR, WHICHEVER OCCURS FIRST, A COPY OF THE DISCLOSURE DOCUMENT, TOGETHER WITH A COPY OF ALL PROPOSED AGREEMENTS RELATING TO THE SALE OF THE FRANCHISE.
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- THIS DISCLOSURE DOCUMENT CONTAINS A SUMMARY ONLY OF CERTAIN MATERIAL PROVISIONS OF THE FRANCHISE AGREEMENT AND THE CONTRACT OR AGREEMENT SHOULD BE REFERRED TO FOR A STATEMENT OF ALL RIGHTS, CONDITIONS, RESTRICTIONS AND OBLIGATIONS OF BOTH THE FRANCHISOR AND THE FRANCHISEE.
Source: Item 23 — RECEIPTS (FDD pages 51–207)
What This Means (2024 FDD)
According to the 2024 Dryer Vent Squad Franchise Disclosure Document, Exhibit J contains the FDD receipt. The FDD also includes amendments for Hawaii that supplement Exhibit J, specifying additional information required on the receipt for franchise filings in that state. Specifically, the Hawaii amendment notes that the franchise filing does not constitute approval or endorsement by the Director of Commerce and Consumer Affairs and outlines the prospective franchisee's rights regarding the disclosure document and franchise agreement.
Item 23 of the Dryer Vent Squad FDD is dedicated to receipts. The inclusion of state-specific amendments, such as those for Hawaii, Illinois, Virginia, Maryland, and Washington, indicates that Dryer Vent Squad is aware of and responsive to varying state franchise laws. These amendments modify specific items within the FDD to ensure compliance with local regulations, providing additional protections or disclosures to franchisees in those states.
For a prospective Dryer Vent Squad franchisee, this means that the FDD receipt, along with any state-specific addenda, is a critical document. It confirms receipt of the FDD and acknowledges the franchisee's rights and obligations under both the franchise agreement and applicable state laws. Franchisees should carefully review this receipt and all associated documents to ensure they understand their rights and responsibilities before signing any agreements or making any payments.