Does the Fast Fix Jewelry And Watch Repairs addendum require any specific actions?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
MARYLAND RIDER TO FRANCHISE AGREEMENT
The following provisions will supersede anything to the contrary in the Franchise Disclosure Document or Franchise Agreement and will apply to all franchises offered and sold under the laws of the State of Maryland:
-
- Based upon Franchisor's financial condition, the Maryland Securities Commissioner has required a financial assurance. Therefore, all initial fees and payments owed by Franchisee shall be deferred until Franchisor completes its pre-opening obligations under the Franchise Agreement.
-
- Sections 2.6 and 10.2(k) of the Franchise Agreement, each of which require the execution of a general release, are each amended to add the following language:
- "The general release required as a condition of renewal, sale, and/or assignment/transfer shall not apply to any liability under the Maryland Franchise Registration and Disclosure Law."
-
- Any claims arising under the Maryland Franchise Registration and Disclosure Laws must be brought within three years after the grant of the Franchise.
-
- Section 13.1 of the Franchise Agreement requires venue to be limited to Broward County, Florida. Any litigation arising or claims under the Maryland Franchise Registration and Disclosure Law may be brought by Franchisee in Maryland.
Source: Item 22 — CONTRACTS (FDD page 37)
What This Means (2025 FDD)
According to the 2025 Fast Fix Jewelry And Watch Repairs FDD, the Maryland Rider to the Franchise Agreement outlines several specific actions and modifications for franchisees operating in Maryland.
First, due to Fast Fix Jewelry And Watch Repairs's financial condition, all initial fees and payments owed by the franchisee are deferred until Fast Fix Jewelry And Watch Repairs completes its pre-opening obligations under the Franchise Agreement. This provides a financial safeguard for the franchisee, ensuring they don't pay fees before Fast Fix Jewelry And Watch Repairs fulfills its initial responsibilities.
Second, the standard general release requirements in Sections 2.6 and 10.2(k) of the Franchise Agreement are amended to exclude any liability under the Maryland Franchise Registration and Disclosure Law. This means that franchisees in Maryland do not waive their rights to make claims under Maryland franchise law, even when signing a general release for renewal, sale, or transfer of the franchise. Additionally, any claims arising under the Maryland Franchise Registration and Disclosure Laws must be brought within three years after the grant of the Franchise.
Finally, while the Franchise Agreement typically requires venue to be limited to Broward County, Florida, franchisees in Maryland can bring litigation or claims under the Maryland Franchise Registration and Disclosure Law in Maryland. These stipulations collectively provide additional protections and specific legal avenues for Fast Fix Jewelry And Watch Repairs franchisees operating within Maryland.