Does the Extreme Art Rider have a specific date associated with its effectiveness for Extreme Art Studio?
Extreme_Art_Studio Franchise · 2024 FDDAnswer from 2024 FDD Document
| THIS EXTREME ART RIDER ("Extreme Art Rider") is entered into and made effective as of |
|---|
| the date set forth on the signature page hereof ("Rider Effective Date"), by and between EXTREME AR STUDIO FRANCHISING, LLC ("we", "us" or "our") and the franchisee named on the signature page |
Source: Item 22 — CONTRACTS (FDD page 49)
What This Means (2024 FDD)
According to Extreme Art Studio's 2024 Franchise Disclosure Document, the Extreme Art Rider becomes effective on the "Rider Effective Date," which is the date set forth on the signature page of the rider. This means the rider's terms and conditions are legally binding from that specific date forward.
The Rider Effective Date is determined when both Extreme Art Studio Franchising, LLC and the franchisee sign the Extreme Art Rider. This date is crucial because it marks the commencement of the franchisee's rights and obligations under the rider, which supplements the existing Franchise Agreement.
Prospective franchisees should pay close attention to the signature page and ensure the Rider Effective Date is clearly and accurately recorded. This date serves as the starting point for various timelines and obligations outlined in the rider and the Franchise Agreement. It is also important to note that the Extreme Art Rider will terminate upon the termination or expiration of the Franchise Agreement, regardless of when the Rider was executed.