How must a waiver or consent by Gold Star be documented to be effective?
Gold_Star Franchise · 2025 FDDAnswer from 2025 FDD Document
- 21.4 No Waiver. No delay or omission on the part of the COMPANY to exercise any right or remedy hereunder shall impair any such right or remedy or be considered a waiver of any such right or remedy or a waiver of any default or condition or any acquiescence therein nor shall the action or non-action of the COMPANY in case of any default impair any right or remedy arising as a result thereof or affect any subsequent default of the same or a different nature. No waiver or consent by the COMPANY shall be effective unless set forth in writing signed by an authorized officer of the COMPANY. No notice, waiver or consent to or demand on the COMPANY in any case shall entitle FRANCHISEE to any other or further notice, waiver, consent or demand in the same, similar or other circumstance.
Source: Item 23 — Receipts (FDD pages 53–163)
What This Means (2025 FDD)
According to Gold Star's 2025 Franchise Disclosure Document, any waiver or consent provided by Gold Star must be documented in writing and signed by an authorized officer of the company to be considered effective. This requirement ensures that any agreements or modifications to the franchise agreement are formally recorded and authorized by Gold Star.
This stipulation protects both Gold Star and the franchisee by preventing misunderstandings or disputes over verbal agreements or informal communications. By requiring written documentation and authorized signatures, Gold Star ensures that all waivers and consents are officially sanctioned and legally binding. This formal process provides a clear record of any changes or exceptions to the standard franchise agreement.
For a prospective Gold Star franchisee, this means that any deviation from the standard terms of the franchise agreement must be obtained in writing from an authorized officer of Gold Star. Franchisees should not rely on verbal assurances or informal communications, as these will not be considered valid waivers or consents. It is crucial to maintain thorough records of all written agreements and ensure they are properly signed and dated to avoid potential disputes or misunderstandings during the franchise term.