How are payments or communications from a Sales Representative to Exit deemed to be received?
Exit Franchise · 2025 FDDAnswer from 2025 FDD Document
- b) Notices.
All payments and communications which may be or are required to be given by Sales Representative or EXIT [Trade Name] to the other of them, shall (in the absence of any specific provision to the contrary) be in writing and delivered to Sales Representative or EXIT [Trade Name] at the principal address of EXIT [Trade Name] or the last home address of the Sales Representative that appears in the records of EXIT [Trade Name].
Delivery may be made by prepaid first class mail.
Any payment or communication so delivered shall be deemed to have been received at the time of delivery or mailing, as the case may be.
Source: Item 23 — RECEIPT (FDD pages 42–235)
What This Means (2025 FDD)
According to Exit's 2025 Franchise Disclosure Document, all payments and communications required between a Sales Representative and Exit must be in writing, unless otherwise specified. These written communications should be delivered to Exit's principal address or to the Sales Representative's last known home address as recorded by Exit.
Delivery can be made via prepaid first-class mail. Any payment or communication delivered in this manner is considered received at the time of delivery or mailing, whichever applies.
This stipulation ensures a clear record of communication and establishes a definitive timeline for when notices or payments are officially recognized, which can be crucial for compliance and legal purposes. Franchisees should ensure that all correspondence is documented and sent via traceable methods to avoid potential disputes over receipt dates.