Does the Floyds 99 rider specify that it must be executed concurrently with the Development Agreement?
Floyds_99 Franchise · 2025 FDDAnswer from 2025 FDD Document
| written. | IN WITNESS WHEREOF, the parties hereto have duly executed and delivered this Wisconsin Rider concurrently with the execution of the Development Agreement on the day and year first above | | concurrently with the execution of the Development Agreement on the day and year first above written. | IN WITNESS WHEREOF, the parties hereto have duly executed and delivered this Illinois Rider |
Source: Item 23 — RECEIPT (FDD pages 58–229)
What This Means (2025 FDD)
According to the 2025 Floyds 99 Franchise Disclosure Document, the Illinois and Wisconsin Riders to the Development Agreement specify that they must be executed concurrently with the Development Agreement. This requirement ensures that all parties are in agreement with the specific modifications and conditions outlined in the rider at the time the Development Agreement is signed.
For a prospective Floyds 99 franchisee, this means that the terms and conditions outlined in the rider, which may include modifications to standard agreement terms based on state-specific laws, are agreed upon at the same time as the Development Agreement. This concurrent execution helps to avoid any potential disputes or misunderstandings regarding the applicability and enforcement of these specific terms.
This practice is fairly standard in franchising, particularly when state laws necessitate specific addenda or modifications to the standard franchise agreement. Ensuring that all documents are executed simultaneously provides clarity and legal certainty for both Floyds 99 and the franchisee.