In the Ledgers Addendum acknowledgement, what information is required besides the signatures of the Franchisor and Franchisee representatives?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
| The undersigned parties do hereby acknowledge receipt of this Addendum. | |
|---|---|
| Dated this day of 20 | |
| Signature of Franchisor Representative | Signature of Franchisee Representative |
| Title of Franchisor Representative | Title of Franchisee Representative |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to the 2025 Ledgers FDD, the addendum acknowledgement requires the date, titles of the representatives, and the signatures of both the Franchisor and Franchisee representatives. This acknowledgement serves as a formal record that both parties have received and are aware of the addendum's contents.
For a prospective Ledgers franchisee, this means that upon receiving the addendum, they must date and sign the document, along with including their title. Similarly, a representative from Ledgers will also need to sign and date the document, including their title. This process ensures that both parties are fully informed and agree to the terms outlined in the addendum, which may include modifications to the Franchise Disclosure Document or Franchise Agreement.
The acknowledgement is a standard practice in franchising to ensure transparency and compliance. By signing the addendum, the franchisee acknowledges their understanding of any changes or additions to the original agreement. This helps to avoid potential disputes or misunderstandings in the future, as both parties have a documented record of their agreement to the updated terms.
It is important for the franchisee to carefully review the addendum before signing the acknowledgement to fully understand its implications. If there are any questions or concerns, the franchisee should seek clarification from Ledgers or legal counsel before proceeding. This ensures that the franchisee is making an informed decision and protecting their interests in the franchise relationship.