What is the required notice period for Golden Krust Caribbean Restaurant to revoke a waiver?
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 has the right to revoke any waiver it grants to a franchisee. To do so, Golden Krust Caribbean Restaurant must provide the franchisee with ten days prior written notice. This revocation can be made at any time and for any reason, at Golden Krust Caribbean Restaurant's sole discretion.
This means that even if Golden Krust Caribbean Restaurant has previously waived a certain requirement or obligation for a franchisee, they can reinstate that requirement with only ten days' notice. This could potentially create challenges for franchisees who have relied on a waiver in their business operations.
Franchisees should be aware of this clause and understand that any waivers granted by Golden Krust Caribbean Restaurant are not permanent and can be revoked with limited notice. This underscores the importance of maintaining open communication with the franchisor and being prepared to adapt to changes in requirements, even if a waiver was previously in place.