Under what conditions can Hyper Kidz revoke a previously granted waiver?
Hyper_Kidz Franchise · 2024 FDDAnswer from 2024 FDD Document
Any waiver granted by us shall be without prejudice to any other rights we may have, will be subject to continuing review by us 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 52)
What This Means (2024 FDD)
According to Hyper Kidz's 2024 Franchise Disclosure Document, Hyper Kidz retains significant discretion over previously granted waivers. Specifically, any waiver granted by Hyper Kidz is subject to ongoing review and can be revoked at any time, for any reason.
To revoke a waiver, Hyper Kidz must provide the franchisee with ten days' prior written notice. This means that even if Hyper Kidz has previously waived a certain requirement or obligation, they can reinstate it with relatively short notice.
This clause gives Hyper Kidz considerable power to change its position on waivers, potentially creating uncertainty for franchisees. Prospective franchisees should carefully consider this provision and seek clarification from Hyper Kidz regarding the circumstances under which a waiver might be granted and subsequently revoked. Understanding Hyper Kidz's policies and practices in this area is crucial for assessing the potential risks and obligations associated with the franchise agreement.