factual

Does the Ledgers FDD specify any modifications to Item 17.m. for franchisees in South Dakota?

Ledgers Franchise · 2025 FDD

Answer from 2025 FDD Document

SOUTH DAKOTA

Initial Fee Deferral:

Item 5 of the FDD and Item 2.1 of the Franchise Agreement are modified with the addition of the following language: "The franchisor defers the collection of all initial fees from South Dakota franchisees until the franchisee is open for business."

Source: Item 22 — CONTRACTS (FDD page 46)

What This Means (2025 FDD)

According to the 2025 Ledgers Franchise Disclosure Document, there are no modifications to Item 17.m specifically mentioned for franchisees in South Dakota. However, the FDD does state that the franchisor defers the collection of all initial fees from South Dakota franchisees until the franchisee is open for business. This modification is made to Item 5 of the FDD and Item 2.1 of the Franchise Agreement.

Item 17 in a franchise disclosure document typically covers renewal, termination, transfer, and dispute resolution. Item 17.m would likely address choice of law and forum selection for dispute resolution. The absence of a specific modification for South Dakota in the FDD suggests that the standard terms outlined in Item 17.m apply to Ledgers franchisees in South Dakota without alteration.

Prospective franchisees in South Dakota should carefully review Item 17.m of the Ledgers Franchise Disclosure Document and the Franchise Agreement to understand the standard terms regarding choice of law and forum selection. They may also want to consult with a legal professional to ensure they fully understand their rights and obligations under these provisions, as well as the implications of the initial fee deferral.

Disclaimer: This information is extracted from the 2025 Franchise Disclosure Document and is provided for research purposes only. It does not constitute legal or financial advice. Consult with a franchise attorney before making any investment decisions.