Can the Fitstop Franchise Agreement be executed in counterparts?
Fitstop Franchise · 2024 FDDAnswer from 2024 FDD Document
- 20.11 This Agreement may be executed in one or more counterparts, any one of which shall be binding on any Party signing thereon. Photocopied copies, digitally-executed and time-stamped copies and scanned original documents shall be deemed originals and shall be valid, binding, and enforceable in accordance with their terms.
Source: Item 23 — RECEIPTS (FDD pages 50–135)
What This Means (2024 FDD)
Yes, according to Fitstop's 2024 Franchise Disclosure Document, the Franchise Agreement can be executed in one or more counterparts. This means that each party can sign a separate copy of the agreement, and all signed copies together constitute a single, binding agreement.
This offers flexibility in the signing process, especially when the parties are geographically separated. It allows for efficient execution as each party can sign their respective copy without waiting for others.
Additionally, photocopied copies, digitally-executed and time-stamped copies and scanned original documents are considered originals and are valid, binding, and enforceable in accordance with their terms. This further streamlines the process, allowing for the use of modern technology to finalize the agreement.