Can the Kidokinetics agreement be executed in multiple counterparts?
Kidokinetics Franchise · 2024 FDDAnswer from 2024 FDD Document
- 20.10. Counterparts.
This Agreement may be executed in multiple counterparts, each of which when so executed are an original, and all of which shall constitute one and the same instrument.
Source: Item 22 — CONTRACTS (FDD page 59)
What This Means (2024 FDD)
According to Kidokinetics's 2024 Franchise Disclosure Document, the Franchise Agreement can be executed in multiple counterparts. This means that the agreement does not require all parties to sign the same physical document. Instead, each party can sign a separate copy, or "counterpart," of the agreement.
According to the FDD, each counterpart, once executed, is considered an original, and all of the counterparts together constitute a single agreement. This is a common practice in franchise agreements and other legal contracts to facilitate the signing process, especially when the parties are geographically separated.
For a prospective Kidokinetics franchisee, this clause simplifies the logistics of finalizing the agreement. It allows the franchisee and Kidokinetics to sign separate copies of the document, which are then combined to form the complete and legally binding agreement. This can speed up the process and reduce administrative hurdles.