Can the Exit agreement be executed in counterparts?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
- h) Counterparts.
This Agreement may be executed in 2 or more counterparts, all of which taken together shall constitute 1 instrument.
Execution and delivery of this Agreement by exchange of electronically scanned copies bearing the signature of a party shall constitute a valid and binding
execution and delivery of this Agreement by the party. Electronically scanned copies shall constitute enforceable original documents.
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the agreement may be executed in counterparts. This means that the agreement can be signed in two or more identical copies, which, when taken together, will be considered as one single agreement.
Exit allows for the execution and delivery of the agreement through electronically scanned copies bearing the signature of a party. This method constitutes a valid and binding execution and delivery of the agreement. Furthermore, these electronically scanned copies are considered enforceable original documents.
This provides flexibility for both Exit and the franchisee, especially if they are not in the same location. It streamlines the signing process, as parties can sign separate copies and exchange them electronically, rather than needing to coordinate a single signing event or mail physical copies. This is a fairly standard practice in franchising.