In the Goldfish Swim School Area Development Agreement, what is the agreement's commencement date determined by?
Goldfish_Swim_School Franchise · 2025 FDDAnswer from 2025 FDD Document
| 19. | ENFORCEMENT | 36 | | 20. | MISCELLANEOUS | 38 | | 21. | ENTIRE AGREEMENT | 41 |
AREA DEVELOPMENT AGREEMENT
| This | Area | Development | Agreement | ("Agreement") | is | entered | into | as | of | the |
|---|---|---|---|---|---|---|---|---|---|---|
| day of, 20 ("Commencement Date"), by and between GOLDFISH | ||||||||||
| SWIM SCHOOL FRANCHISING, LLC | ("Franchisor," "us" or "we"), a Michigan limited | |||||||||
| liability company, with its principal place of business located at 2701 Industrial Row Drive, | ||||||||||
| Troy, Michigan 48084, and ("Developer") with its principal place | ||||||||||
| of business located at and its Principals (as defined herein |
Source: Item 22 — CONTRACTS (FDD pages 76–77)
What This Means (2025 FDD)
According to the 2025 Goldfish Swim School Franchise Disclosure Document, the Area Development Agreement's commencement date is determined by the day of, and year that the agreement is entered into. The agreement continues until the date specified on the Development Schedule for the last Franchised swim school to be opened.
This means that the start date of the agreement is a specific date agreed upon when both parties sign the document. This date is important because it marks the beginning of the franchisee's obligations and rights under the Area Development Agreement. The agreement outlines the schedule for opening new Goldfish Swim School locations within a defined territory.
The Area Development Agreement for Goldfish Swim School will automatically expire on the opening date for the last swim school to be opened, as specified in the agreement. The franchisee must adhere to the development schedule outlined in the agreement, ensuring that each swim school is open and operating by the dates specified. Failure to meet these deadlines could result in termination of the agreement and loss of rights to develop additional locations.