According to the Mrcool Franchise Agreement, what article pertains to receipts?
Mrcool Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 23: RECEIPTS]
WHEREAS, Assignee is the franchisor of the MRCOOL Center franchise system (the "MRCOOL Center Franchise System");
WHEREAS, Assignor, as franchisee, and Assignee, as franchisor, are parties to a MRCOOL Center Franchise Agreement (the "Franchise Agreement");
WHEREAS, the term "Digital Media" shall refer to and mean "any interactive or static electronic document, application or media that is connected to and/or in a network of computers, servers and/or other devices linked by communications software, part of the world wide web (including, but not limited to websites), linked by the internet or part of a web based application, software application, smart phone based application or social media platform including, but not limited to social media platforms and applications such as Facebook, LinkedIn, Twitter / X, Pinterest, Instagram, Snapchat, and YouTube, and world wide web and internet based directories and local directories that refers, references, identifies, reviews, promotes and/or relates, in any way, to a MRCOOL Center, MRCOOL Centers, Assignor's MRCOOL Center and/or trademarks associated with the MRCOOL Center Franchise System and/or Assignee. Digital Media further includes the MRCOOL Center website, web pages and website subdomains (including those related to, associated with and/or a part of the MRCOOL Center Franchise System) associated with and/or related to Assignor's MRCOOL Center and all web pages, blog posts, videos, articles, information, sub-domains, and all other media and/or publications relating to the MRCOOL Center Franchise System that is displayed and/or transmitted digitally"; and
WHEREAS, In connection with Assignor's establishment and operation of a MRCOOL Center, Assignor will be utilizing accounts, information, phone numbers and Digital Media subject to strict requirements set forth in the Franchise agreement.
NOW THEREFORE, Assignor, in exchange for good and valuable consideration provided and paid by Assignee (receipt of which is hereby acknowledged), agrees:
Source: Item 23 — RECEIPTS (FDD pages 55–263)
What This Means (2025 FDD)
The 2025 Mrcool Franchise Disclosure Document does not explicitly state which article of the agreement pertains to receipts. Item 23 of the FDD is titled "RECEIPTS," but the provided excerpts consist of definitions and recitals. Therefore, while the FDD acknowledges the importance of receipts within the Mrcool franchise system, it does not specify the exact article in the Franchise Agreement that details the obligations and procedures related to them.
A prospective Mrcool franchisee should carefully review the full Franchise Agreement to identify the specific article addressing receipts. This article would likely outline requirements for issuing, maintaining, and reporting receipts, as well as any related financial obligations. Understanding these requirements is crucial for ensuring compliance with Mrcool's financial and operational standards.
To gain clarity, a potential franchisee should directly ask Mrcool's franchise representatives to identify the specific article in the Franchise Agreement that covers the handling of receipts. They should also inquire about any related policies or procedures detailed in the Operations Manual or other documents. This due diligence will help the franchisee fully understand their responsibilities regarding receipts and avoid potential compliance issues.