According to the Fly Fitness franchise agreement, what is Exhibit H?
Fly_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
Exhibit H – Acknowledgement Statements, as permitted by state law.
Source: Item 22 — CONTRACTS (FDD pages 44–45)
What This Means (2024 FDD)
According to Fly Fitness's 2024 Franchise Disclosure Document, Exhibit H to the franchise agreement consists of Acknowledgement Statements, as permitted by state law. This exhibit is included as part of the franchise offering documents.
Acknowledgement statements are legal documents where the franchisee formally recognizes and confirms certain aspects of the franchise agreement. These statements are often required by state laws to ensure that franchisees have fully understood the terms and conditions they are agreeing to. The content of these statements can vary depending on the specific requirements of each state.
Prospective Fly Fitness franchisees should carefully review Exhibit H to understand the specific acknowledgements they are making, as these statements can have legal implications. Franchisees should also be aware that the requirements for acknowledgement statements can vary by state, so it's important to understand the specific requirements for the state in which they are franchising.