What is the Gokhale Method franchisee's obligation regarding observing high standards of fair dealing?
Gokhale_Method Franchise · 2024 FDDAnswer from 2024 FDD Document
- 8.7.
Permits and Licenses.
You will, at your own expense, research the requirements for and obtain all permits and licenses for the Franchised Business and will then operate the Franchised Business in accordance with all applicable laws and regulations, adhere to good business practices and observe high standards of honesty, integrity, fair dealing and ethical business conduct in all dealings with customers, suppliers and us.
You shall immediately notify us in writing of the commencement of any action, suit, or proceeding, and of the issuance of any order, writ, injunction, award, or decree of any court, agency, or other governmental instrumentality, which may adversely affect the operation or financial condition of the Franchised Business.
Source: Item 22 — CONTRACTS (FDD page 34)
What This Means (2024 FDD)
According to the 2024 Gokhale Method Franchise Disclosure Document, franchisees must adhere to high standards of ethical conduct in all aspects of their business operations. Specifically, franchisees are required to operate their franchised business in accordance with all applicable laws and regulations, maintain good business practices, and observe high standards of honesty, integrity, fair dealing, and ethical business conduct in all interactions with customers, suppliers, and Gokhale Method itself.
This obligation means that a prospective Gokhale Method franchisee must commit to conducting business with transparency, honesty, and fairness. This includes providing accurate information to customers, honoring commitments to suppliers, and maintaining ethical relationships with the franchisor. Failure to uphold these standards could result in damage to the Gokhale Method brand's reputation and potential legal repercussions for the franchisee.
Furthermore, the franchisee is obligated to immediately inform Gokhale Method in writing if any legal actions, suits, or proceedings commence, or if any orders, writs, injunctions, awards, or decrees are issued by a court, agency, or governmental body that could negatively impact the operation or financial stability of the franchised business. This requirement ensures that Gokhale Method is kept informed of any potential issues that could affect the franchise and allows them to provide support or guidance as needed.