For Itan, can the Addendum be executed in counterparts?
Itan Franchise · 2025 FDDAnswer from 2025 FDD Document
- (d) Counterparts. This Addendum may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute but one and the same document.
Source: Item 23 — RECEIPT (FDD pages 44–190)
What This Means (2025 FDD)
According to Itan's 2025 Franchise Disclosure Document, the Addendum to the franchise agreement can be executed in counterparts. This means that the agreement does not need to be signed on one single document. Instead, each party can sign a separate copy of the same document, and these separate copies together will be considered a single, binding agreement.
For a prospective Itan franchisee, this provides flexibility during the signing process. It allows each party to sign the agreement at different times and locations, which can be particularly useful if the parties are geographically separated. Each signed copy is considered an original, and all the copies together form the complete agreement.
This practice is relatively common in franchising and business transactions generally, as it simplifies the logistics of finalizing agreements, especially when dealing with multiple parties or parties located in different regions. It ensures that the agreement is legally binding even if all signatures are not on the same physical document.