How does Golden Krust Caribbean Restaurant provide notice of a waiver of obligations?
Golden_Krust_Caribbean_Restaurant Franchise · 2024 FDDAnswer from 2024 FDD Document
We and you may by written instrument unilaterally waive or reduce any obligation of or restriction upon the other under this Agreement, effective upon delivery of written notice thereof to the other of such other effective date stated in the notice of waiver. Any waiver we grant will be without prejudice to any other rights we may have, will be subject to our continuing review and may be revoked, in our sole discretion, at any time and for any reason, effective upon delivery to you of ten (10) days' prior written notice.
Source: Item 22 — CONTRACTS (FDD page 35)
What This Means (2024 FDD)
According to the 2024 Golden Krust Caribbean Restaurant Franchise Disclosure Document, Golden Krust Caribbean Restaurant can unilaterally waive or reduce any obligation or restriction upon the franchisee through a written instrument. This waiver becomes effective once the franchisee receives written notice, or on another effective date as specified in the waiver notice.
Any waiver granted by Golden Krust Caribbean Restaurant does not compromise any other rights they possess. The waiver is subject to ongoing review and can be revoked at any time, for any reason, at Golden Krust Caribbean Restaurant's discretion.
To revoke a waiver, Golden Krust Caribbean Restaurant must provide the franchisee with ten days prior written notice. This ensures the franchisee is informed of the change and can adjust accordingly. This clause protects Golden Krust Caribbean Restaurant's interests while also providing a structured process for modifying the franchise agreement.