What is Schedule 5 of the Ledgers Franchise Agreement related to?
Ledgers Franchise · 2025 FDDAnswer from 2025 FDD Document
| Schedule 1 | Territory |
|---|---|
| Schedule 2 | Automatic Bank Draft Authorization |
| Schedule 3 | Telephone Number Assignment |
| Schedule 4 | Lease Rider |
| Schedule 5 | Release |
| Schedule 6 | State Addenda to the Franchise Agreement |
Source: Item 22 — CONTRACTS (FDD page 46)
What This Means (2025 FDD)
According to the 2025 Ledgers Franchise Disclosure Document, Schedule 5 of the Franchise Agreement pertains to a release. This is according to the table of contents of the franchise agreement. Other schedules relate to territory, automatic bank draft authorization, telephone number assignment, lease rider, and state addenda to the franchise agreement.
This means that as part of the Ledgers Franchise Agreement, franchisees will be required to sign a release, the details of which are outlined in Schedule 5. Releases are common in franchise agreements and often involve the franchisee releasing the franchisor from certain liabilities or claims.
Prospective franchisees should carefully review Schedule 5 and understand the scope of the release before signing the Franchise Agreement. It is advisable to seek legal counsel to fully understand the implications of signing such a release, as it could impact the franchisee's rights and ability to pursue claims against Ledgers in the future.