What is the significance of the 'Dated this day of 20' line in the Ledgers addendum?
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 Ledgers's 2025 Franchise Disclosure Document, the 'Dated this day of 20' line in the addendum signifies the date on which both the franchisor and the franchisee acknowledge receipt of the addendum. This date is important because it establishes a clear timeline for when both parties were informed of and agreed to the terms outlined in the addendum.
By signing and dating the addendum, both Ledgers and the franchisee confirm that they have received and understand the additional information or modifications to the franchise agreement. This helps to avoid potential disputes or misunderstandings in the future by providing a documented record of when the addendum was acknowledged.
For a prospective Ledgers franchisee, this means that any addendum to the franchise agreement is a formal and legally binding document. The franchisee should carefully review the addendum before signing and dating it to ensure they fully understand its contents and implications. This date serves as an official record of their agreement to the addendum's terms.