What action by Floyds 99 signifies acceptance of the agreement?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
| Developer is dated, 20 | This Rider to the Development Agreement by and between Floyd's 99 Franchising, LLC and | |
|---|---|---|
| 1. | The following shall be added at the end of Section 8.2.f.: | |
| 687.5 be satisfied. | Provided however, that all rights enjoyed by the Franchisee and any causes of action arising in the Franchisee's favor from the provisions of Article 33 of the General Business Law of the State of New York and the regulations issued thereunder shall remain in force; it being the intent of this proviso that the non-waiver provision of GBL 687.4 and | |
| 2. | Section 8.6 is deleted and the following is inserted in its place: | |
| Franchisor's obligations under this Agreement. | This Agreement is fully assignable by the Franchisor and shall inure to the benefit of any assignee or other legal successor in interest, and the Franchisor shall in such event be fully released from the same, provided no assignment shall be made except to an assignee who, in the Franchisor's good faith judgment, is willing and able to assume the | |
| 3. | The following shall be added at the end of Section 9.1: | The Developer may terminate the Agreement upon any grounds available by law. |
| 4. wrongs committed by the Franchisor. | After the first sentence of Section 10.3, the following sentence shall be added: However, the Developer shall not be required to indemnify the Franchisor for any liabilities which arose as a result of the Franchisor's breach of this Agreement or other civil | |
| 5. | The following shall be added to Section 13.4: | |
| General Business Law. | However, the foregoing choice of law shall not be considered a waiver of any right conferred upon the Developer by the provisions of Article 33 of the New York State | |
| written. | IN WITNESS WHEREOF, the parties hereto have duly executed and delivered this New York Rider concurrently with the execution of the Development Agreement on the day and year first above | |
| FLOYD'S 99 FRANCHISING, LLC | DEVELOPER (Print Name) | |
| By: | By: | |
| Title: | Title: |
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, acceptance of the agreement is signified by the execution and delivery of the New York Rider or the Maryland Rider concurrently with the execution of the Development Agreement or Franchise Agreement. This is evidenced by the inclusion of a statement indicating that the parties have duly executed and delivered the respective rider concurrently with the execution of the main agreement, as well as signature lines for both Floyds 99 Franchising, LLC and the Developer/Franchisee. This indicates that both parties must sign and deliver the rider at the same time they sign the main agreement for it to be considered accepted.
For a prospective Floyds 99 franchisee, this means that the franchise agreement is not considered fully accepted until both the franchisee and Floyds 99 have signed and delivered all required documents, including any state-specific riders like those for New York or Maryland. This concurrent execution ensures that all parties are in agreement with the terms and conditions outlined in both the main agreement and any supplemental riders.
It is important for franchisees to carefully review all documents and understand their rights and obligations before signing. The riders often contain provisions that modify or clarify the terms of the main agreement, and these provisions can have a significant impact on the franchisee's operation of their Floyds 99 shop. Franchisees should also be aware of any state-specific laws or regulations that may affect their franchise agreement, as these laws may provide additional protections or impose additional obligations.
This requirement of concurrent execution is a fairly standard practice in franchising, as it ensures that all parties are aware of and agree to all terms and conditions before the franchise relationship is officially established. Franchisees should consult with an attorney or other qualified professional to ensure that they fully understand the terms of the franchise agreement and any applicable riders before signing.