Does the addendum require the franchisee to acknowledge reading and understanding its terms for Focus Cfo?
Focus_Cfo Franchise · 2025 FDDAnswer from 2025 FDD Document
| CFO," | This Addendum is made and entered by and between Focus CFO Group, LLC, ("Focus "Franchisor," ("Franchisee," "you" or "your"). | "Company", | "us", | "we" | or | "our"), | and |
|---|---|---|---|---|---|---|---|
| 1. | Focus CFO and Franchisee are parties to that certain Franchise Agreement dated | ||||||
| , 20 | (the "Franchise Agreement") that has been signed concurrently | ||||||
| with the signing of this Addendum. This Addendum is attached to and forms a part of the Franchise | |||||||
| Agreement. This Addendum has been signed because (a) Franchisee is domiciled in Illinois; (b) | |||||||
| the offer of the franchise is made or accepted in Illinois; (c) the franchise business is or will be | |||||||
| located in Illinois; or (d) the franchised business is or will be located in Illinois. | |||||||
| 2. | Illinois law governs the Franchise Agreement. | ||||||
| 3. | In conformance with Section 4 of the Illinois Franchise Disclosure Act, any | ||||||
| provision in a franchise agreement that designates jurisdiction and venue in a forum outside of the | |||||||
| State of Illinois is void. However, a franchise agreement may provide for arbitration to take place | |||||||
| outside of Illinois. | |||||||
| 4. | Your rights upon Termination and Non-Renewal are set forth in sections 19 and 20 | ||||||
| of the Illinois Franchise Disclosure Act. | |||||||
| 5. | In conformance with section 41 of the Illinois Franchise Disclosure Act, any | ||||||
| condition, stipulation or provision purporting to bind any person acquiring any franchise to waive | |||||||
| compliance with the Illinois Franchise Disclosure Act or any other law of Illinois is void. | |||||||
| IN WITNESS WHEREOF, each of the undersigned hereby acknowledge having read this | |||||||
| Addendum and understands and consents to be bound by all of its terms. | |||||||
| Focus CFO Group, LLC | Franchise: | ||||||
| By: | By: | ||||||
| Its: | Its: | ||||||
| Dated: |
Source: Item 23 — Receipts (FDD pages 37–126)
What This Means (2025 FDD)
According to the 2025 Focus Cfo Franchise Disclosure Document, if a Focus Cfo franchisee is domiciled in Illinois, the franchisee must acknowledge that they have read the addendum and that they understand and consent to be bound by all of its terms. This acknowledgement is formalized through signatures from both Focus Cfo Group, LLC and the franchisee, along with the dating of the addendum by both parties. This requirement ensures that the franchisee is fully aware of and agrees to the specific legal conditions applicable in Illinois, as outlined in the addendum.
The addendum addresses specific legal considerations related to Illinois franchise law. These considerations include stipulations that any provision designating jurisdiction and venue outside of Illinois is void, although arbitration outside of Illinois is permitted. The addendum also references the franchisee's rights upon termination and non-renewal as set forth in sections 19 and 20 of the Illinois Franchise Disclosure Act, and it confirms that any attempt to waive compliance with the Illinois Franchise Disclosure Act is void.
This requirement protects both the franchisee and Focus Cfo by ensuring a clear understanding of the legal framework governing the franchise agreement within Illinois. It also highlights the importance of franchisees carefully reviewing all addenda and understanding their implications before signing the franchise agreement. Prospective franchisees should seek legal counsel to fully understand their rights and obligations under the franchise agreement and any addenda, especially those pertaining to specific state laws.