What exhibits should be included with the Extreme Art Studio disclosure document received on May 2, 2024?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
Issuance Date: May 2, 2024
EXTREME
I received a disclosure document issued May 2, 2024 which included the following exhibits:
EXHIBIT A
STATE ADMINISTRATORS AND AGENTS FOR SERVICE OF PROCESS
EXHIBIT E
STATE ADDENDA AND AGREEMENT RIDERS
Rev. 071823
EXHIBIT F
FRANCHISE DISCLOSURE QUESTIONNAIRE
EXHIBIT I
STATE EFFECTIVE DATES
EXHIBIT J
RECEIPT
Source: Item 23 — RECEIPTS (FDD pages 49–214)
What This Means (2024 FDD)
According to the 2024 Extreme Art Studio Franchise Disclosure Document, the document issued on May 2, 2024, should include several exhibits. While the FDD excerpt confirms the issuance date and receipt, it does not explicitly list all the exhibits that should be included. However, it does mention specific exhibits such as Exhibit A (State Administrators and Agents for Service of Process), Exhibit E (State Addenda and Agreement Riders), Exhibit F (Franchise Disclosure Questionnaire), Exhibit I (State Effective Dates) and Exhibit J (Receipt).
Prospective Extreme Art Studio franchisees should carefully check that their disclosure document contains all the necessary exhibits. These exhibits provide crucial information, including state-specific regulations, contact details for state administrators, and the Franchise Disclosure Questionnaire. Missing exhibits could indicate an incomplete disclosure, potentially leading to legal and compliance issues later on.
It is important to note that the Franchise Disclosure Questionnaire, Exhibit F, is not to be used for any franchise sale in or to residents of California, Hawaii, Illinois, Indiana, Maryland, Michigan, Minnesota, New York, North Dakota, Rhode Island, South Dakota, Virginia, Washington, or Wisconsin. This means that if a prospective franchisee resides in or plans to operate an Extreme Art Studio franchise in one of these states, they should not complete this particular questionnaire. Instead, they should look for any state-specific addenda or riders that may be included as part of Exhibit E.
To ensure full compliance and understanding, prospective Extreme Art Studio franchisees should confirm with the franchisor that they have received all required exhibits and that these exhibits are current and applicable to their specific state and circumstances. Consulting with a franchise attorney can also help in verifying the completeness and accuracy of the disclosure document.