What schedules are attached to the Dryer Vent Squad Franchise Agreement?
Dryer_Vent_Squad Franchise · 2024 FDDAnswer from 2024 FDD Document
| n. | Franchisor's right of first refusal to acquire franchisee's business | 14.F. | We have the right to match any offer to purchase your Dryer Vent Squad Business or the corporate entity operating your Dryer Vent Squad Business. |
|---|---|---|---|
| o. | Franchisor's option to purchase | Not | Not applicable. |
| franchisee's business | applicable | ||
| p. | Death or disability of franchisee | 14.D. | If you are an individual, within 30 days of your death or permanent |
| disability, your executor and/or legal representative must appoint an | |||
| Operating Manager approved by us and within 60 days of such | |||
| appointment the Operating Manager must complete, to our | |||
| satisfaction, our initial training program. Within 12 months of the | |||
| date of death or disability, the Franchise Agreement must be | |||
| transferred to a transferee approved by us and otherwise transferred | |||
| in accordance with the terms of the Franchise Agreement. If the | |||
| franchisee is a Corporate Entity, within 30 days of the death or | |||
| permanent disability of your Managing Owner, if there are other | |||
| Owners, you must appoint a replacement Operating Manager | |||
| approved by us and within 60 days of such appointment the | |||
| replacement Operating Manager must complete, to our satisfaction, | |||
| our initial training program. | |||
| q. | Non-competition covenants | 6 | No involvement in any competitive business and must comply with |
| during the term of the franchise | confidentiality, non-disclosure and non-solicitation covenants. | ||
| r. | Non-competition covenants after the franchise is terminated or expires | 6, 17 | No involvement, ownership or interest whatsoever for 24 months in any competing business in: your Operating Territory; a 25 mile radius of your Operating Territory; the operating territory of any other Dryer Vent Squad Business; and you must comply with confidentiality, non-disclosure and non-solicitation covenants. |
| s. | Modification of the agreement | 18.L. | Requires writing signed by you and us, except for unilateral |
| changes that we may make to the Manuals or our unilateral | |||
| reduction of the scope of a restrictive covenant that we may make | |||
| in our discretion. | |||
| t. | Integration/merger clauses | 18.M. | Only the terms of the Franchise Agreement and schedules to the |
| Franchise Agreement and the respective signed exhibits to the | |||
| Franchise Agreement are binding, subject to state law. Nothing in | |||
| any agreement is intended to disclaim the express representations | |||
| made in the Franchise Disclosure Document, its exhibits and | |||
| amendments. | |||
| u. | Dispute resolution by arbitration or mediation | 18.G. |
Source: Item 22 — CONTRACTS (FDD page 51)
What This Means (2024 FDD)
According to the 2024 Dryer Vent Squad Franchise Disclosure Document, the Franchise Agreement includes schedules. Specifically, Item 17t states that only the terms of the Franchise Agreement, its schedules, and signed exhibits are binding, subject to state law. This indicates that schedules are integral components of the Franchise Agreement.
Furthermore, Exhibit 1 of the Franchise Agreement is the Owner Agreement and Individual Guaranty. The document emphasizes that the franchisee has thoroughly reviewed the completed Franchise Agreement, including all schedules and exhibits. This reinforces the importance of these schedules as part of the overall agreement.
Prospective franchisees should carefully examine all schedules attached to the Dryer Vent Squad Franchise Agreement, as these documents contain legally binding terms and conditions. Consulting with a legal professional to review these schedules is highly recommended to fully understand the obligations and rights as a franchisee.