What actions must I take to be granted an extension to the cure period for a Fitstop agreement breach?
Fitstop Franchise · 2024 FDDAnswer from 2024 FDD Document
- 16.3 Cure Period and Franchisee's Obligation to Demonstrate Curative Actions. If the breach concerns this Agreement and does not result in immediate termination, the correction of any default must be accomplished within 30 calendar days after we submit notice to you describing the condition which constitutes the violation, and the corrective action which you must take if any corrective action is possible to cure the default.
Should a default under this Agreement be of such a nature that we, in writing, agree more than 30 calendar days is reasonably required to cure, you shall be given such additional time as may be reasonable, provided that corrective action is commenced promptly within the initial thirty (30) day period and is pursued diligently to completion.
Source: Item 23 — RECEIPTS (FDD pages 50–135)
What This Means (2024 FDD)
According to Fitstop's 2024 Franchise Disclosure Document, if you breach the Franchise Agreement, you typically have 30 calendar days after receiving notice from Fitstop to correct the issue. The notice will describe the violation and the necessary corrective action.
However, if the breach requires more than 30 days to cure, Fitstop may agree in writing to grant you additional time. To qualify for this extension, you must commence corrective action promptly within the initial 30-day period and diligently pursue it to completion.
In practical terms, this means that if you realize you cannot fix the breach within the standard 30-day period, you should immediately notify Fitstop in writing, explain why more time is needed, and outline the steps you are taking to resolve the issue. Documenting your efforts and maintaining open communication with Fitstop will be crucial in obtaining their written agreement for an extension. Failure to cure the default within the allowed time, including any extension, will result in termination of the Franchise Agreement without further notice.