What is the title of the Franchisor Representative required for acknowledgement of receipt of 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' 2025 Franchise Disclosure Document, the addendum requires acknowledgement of receipt by both the Franchisor and Franchisee. The document specifies that both parties must sign and provide their titles. This indicates that a representative of Ledgers, acting on behalf of the company, must sign the addendum to acknowledge its receipt.
For a prospective Ledgers franchisee, this means that they will need to ensure that the addendum is properly signed and dated by an authorized representative of Ledgers. This step is important to confirm that Ledgers has officially acknowledged the franchisee's receipt of the addendum. The franchisee should verify the title of the Franchisor Representative to ensure they are dealing with someone who has the authority to bind the company.
This requirement is a standard practice in franchising, as it ensures that both parties are aware of and agree to the terms outlined in the addendum. By having a signed acknowledgement, Ledgers and the franchisee create a clear record of their mutual understanding and agreement to the addendum's contents. This can be crucial for resolving any potential disputes or misunderstandings that may arise during the franchise term.