Under what conditions can the Fast Fix Jewelry And Watch Repairs agreement be modified?
Fast_Fix_Jewelry_And_Watch_Repairs Franchise · 2025 FDDAnswer from 2025 FDD Document
- Section 10.10 of the Franchise Agreement is amended to include the following language:
"However, to the extent required by applicable law, no assignment will be made except to an assignee who, in our good faith judgment, is willing and able to assume its obligations under this Agreement."
- Section 31 of the Franchise Agreement is amended to include the following language:
"You may terminate this Agreement on any grounds available by law under the provisions of Article 33 of the General Business Law of the State of New York."
- Sections 13.1 ("Choice of Forum") and 13.2 ("Governing Law") of the Franchise Agreement are amended to include the following language:
"However, to the extent required by Article 33 of the General Business Law of the State of New York, this Section shall not be considered a waiver of any right conferred on you by the provisions of Article 33 of the General Business Law of the State of New York and the regulations issued thereunder."
Source: Item 22 — CONTRACTS (FDD page 37)
What This Means (2025 FDD)
Based on the 2025 Fast Fix Jewelry And Watch Repairs Franchise Disclosure Document, Section 10.10 of the Franchise Agreement can be amended. The amendment states that no assignment will be made except to an assignee who, in the franchisor's good faith judgment, is willing and able to assume its obligations under the Agreement, but only to the extent required by applicable law.
Additionally, Section 31 of the Franchise Agreement is amended to include language that allows the franchisee to terminate the agreement on any grounds available by law under the provisions of Article 33 of the General Business Law of the State of New York.
Sections 13.1 ("Choice of Forum") and 13.2 ("Governing Law") of the Franchise Agreement are also amended. The amendment specifies that these sections will not be considered a waiver of any right conferred on the franchisee by the provisions of Article 33 of the General Business Law of the State of New York and the regulations issued thereunder, but only to the extent required by Article 33 of the General Business Law of the State of New York. These modifications provide additional legal protections and termination rights for franchisees, particularly those operating in New York, and ensure that assignments are made to capable parties under applicable law.