In the Ella Cafe Multi-Unit Development Agreement, where is the Effective Date of the agreement reflected?
Ella_Cafe Franchise · 2024 FDDAnswer from 2024 FDD Document
THIS MULTI-UNIT DEVELOPMENT AGREEMENT ("Agreement") is made and entered into as of the Effective Date reflected in the Key Terms (Attachment A) by and between Ella Coffee Company, LLC, a Delaware limited liability company, with its principal office in Plantation, Florida ("Franchisor"), and the Developer identified in the Key Terms ("Developer").
Source: Item 23 — RECEIPTS (FDD pages 50–181)
What This Means (2024 FDD)
According to Ella Cafe's 2024 Franchise Disclosure Document, the Multi-Unit Development Agreement states that the effective date of the agreement is reflected in the Key Terms, which are included as Attachment A to the agreement. This means that a prospective franchisee can find the specific date on which the agreement becomes active by referring to Attachment A of the Multi-Unit Development Agreement.
For a prospective Ella Cafe multi-unit developer, knowing the effective date is crucial as it marks the commencement of their rights and obligations under the agreement. This date sets the timeline for development schedules, payment terms, and other key milestones outlined in the agreement.
It is important for the franchisee to carefully review Attachment A and understand the implications of the effective date, as it governs the overall term and conditions of their development rights with Ella Cafe. Paying close attention to this date ensures clarity and avoids potential misunderstandings regarding the start of their franchise relationship.