What is the required method of delivery for written notices of termination from Floyds 99 to the developer?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
- 9.1 Termination by Franchisor Effective Upon Notice. Franchisor shall have the right, at its option, to terminate this Agreement and all rights granted Developer hereunder, without affording Developer any opportunity to cure any default (subject to any state laws to the contrary, where state law shall prevail), effective upon written notice to Developer, addressed as provided in Section 13.11, upon the occurrence of any of the following events:
- (a) Developer (or any of Developer's owners) have made any material misrepresentation or omission in connection with Developer's purchase of these development rights;
- (b) Developer fails to establish and open Barbershops in accordance with the Development Schedule (or any extension approved by Franchisor in writing);
- (c) Developer fails to maintain in continuous operation the minimum number of cumulative Barbershops required by the Development Schedule;
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, Floyds 99 can terminate the Development Agreement effective upon written notice to the developer. This notice must be addressed as provided in Section 13.11 of the agreement.
This means that if a developer fails to meet the obligations outlined in the agreement, such as failing to open barbershops according to the development schedule or failing to maintain the minimum number of operating barbershops, Floyds 99 can terminate the agreement. The termination is effective as soon as the developer receives the written notice, assuming that the notice is sent to the address specified in Section 13.11.
It is important for prospective developers to understand the conditions under which Floyds 99 can terminate the agreement, as well as the specific requirements for how the termination notice must be delivered. Developers should carefully review Section 13.11 to ensure they understand the proper address and any other requirements for receiving official notices from Floyds 99. Failure to adhere to the development schedule or other key obligations could result in the termination of the agreement and the loss of development rights.