What form must be completed upon renewal of the Exit Sales Representative Agreement?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
- a) Initial Term and Renewal. The term of this Agreement shall be for a period of 1 year from the date first written above. The Agreement will automatically be renewed for further periods of 1 year, unless terminated in writing by either party at least 60 days before the end of the term in effect. Upon renewal, the Renewal Form attached as Schedule 3 to this Agreement, or the most current Renewal Form, if it has been amended since the date of this Agreement, shall be completed by both parties
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, the Exit Sales Representative Agreement has an initial term of one year. Unless either party terminates the agreement in writing at least 60 days before the end of the current term, the agreement automatically renews for additional one-year periods.
Upon renewal, both parties must complete the Renewal Form attached as Schedule 3 to the agreement. If the Renewal Form has been amended since the original agreement date, the most current version of the Renewal Form should be used.
This requirement ensures that both Exit and the sales representative are aware of and agree to the terms of the renewed agreement. It also allows for any necessary updates or changes to be incorporated into the agreement at the time of renewal.