Does the Golden Krust Caribbean Restaurant franchise agreement specify who must be notified of address changes?
Golden_Krust_Caribbean_Restaurant Franchise · 2024 FDDAnswer from 2024 FDD Document
If you are at any time a corporation, limited liability company or partnership, you agree and represent that:
- (1) You will have the authority to execute, deliver and perform your obligations under this Agreement and are duly organized or formed and validly existing in good standing under the laws of the state of your incorporation or formation;
- (2) Your organizational documents or partnership agreement will recite that the issuance and transfer of any ownership interests in you are restricted by the terms of this Agreement, and all certificates and other documents representing ownership interests in you will bear a legend referring to the restrictions of this Agreement;
- (3) Exhibit A to this Agreement will completely and accurately describe all of your owners and their interests in you; and
- (4) Each of your owners at any time during the term of this Agreement will execute an agreement in the form that we prescribe undertaking to be bound jointly and severally by all provisions of this Agreement and any ancillary agreements between you and us that bind you. You and your owners agree to execute and deliver to us such revised Exhibits A as may be necessary to reflect any changes in the information contained therein and to furnish such other information about your organization or formation as we may request.
Source: Item 22 — CONTRACTS (FDD page 35)
What This Means (2024 FDD)
The 2024 Franchise Disclosure Document for Golden Krust Caribbean Restaurant states that if the franchisee is a corporation, limited liability company, or partnership, they must furnish information about their organization or formation as requested by Golden Krust Franchising, Inc. This includes providing revised Exhibits A to reflect any changes in the information contained therein.
While the FDD does not explicitly state that franchisees must notify Golden Krust Caribbean Restaurant of address changes, it does state that franchisees are obligated to deliver a copy of the signed lease to Golden Krust Caribbean Restaurant within 15 days after its execution. This implies that Golden Krust Caribbean Restaurant should be informed of the restaurant's location and any changes to the lease agreement.
In the event of termination or expiration of the franchise agreement, the franchisee is required to notify the telephone company, telephone directory publishers, online portals, and social media of the termination of their right to use any telephone numbers or listings associated with the Golden Krust Caribbean Restaurant marks. This suggests an ongoing responsibility to keep contact information accurate and up-to-date, although it is specifically in the context of the agreement's termination.