Does the Dryer Vent Squad Franchise Agreement include a General Release?
Dryer_Vent_Squad Franchise · 2024 FDDAnswer from 2024 FDD Document
- (6) Franchisee, and each Owner must execute the General Release attached to this Agreement as Exhibit 6 releasing Franchisor, Franchisor's Affiliates and Franchisor's past and present officers, directors, shareholders, members, partners, agents, representatives, independent contractors, servants and employees, of any and all claims against Franchisor for matters arising on, or before, the effective date of the Transfer;
Source: Item 22 — CONTRACTS (FDD page 51)
What This Means (2024 FDD)
Yes, according to the 2024 Dryer Vent Squad Franchise Disclosure Document, the Franchise Agreement includes a General Release. Specifically, in the event of a transfer of the franchise, the franchisee and each owner must execute a General Release attached to the agreement as Exhibit 6.
This General Release requires the franchisee to release Dryer Vent Squad, its affiliates, and its officers, directors, shareholders, members, partners, agents, representatives, independent contractors, servants, and employees from any and all claims against Dryer Vent Squad. This release applies to matters arising on or before the effective date of the transfer.
This provision is designed to protect Dryer Vent Squad from potential liabilities or claims that may arise from the franchisee's operation of the business up to the point of transfer. A prospective franchisee should carefully review Exhibit 6 and understand the scope of the claims they are releasing before signing the Franchise Agreement.