What agreement is referenced in the Pearce Bespoke General Release of Claims?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
This General Release of Claims ("Release") is made as of the date signed below, by the individual or entity listed below as franchisee ("Franchisee"), and each individual holding an ownership interest in Franchisee (collectively with Franchisee, "Releasor") in favor of Pearce Bespoke Franchising, LLC ("Franchisor," and together with Releasor, the "Parties"). This General Release of Claims will not apply to claims arising under the Franchise Investment Protection Act, Chapter 19.100 RCW, or the rules adopted thereunder.
WHEREAS, Franchisor and Franchisee have entered into a Franchise Agreement ("Agreement") pursuant to which Franchisee was granted the right to own and operate a Pearce Bespoke business;
WHEREAS, [Franchisee has notified Franchisor of its desire to transfer the Agreement and all rights related thereto, or an ownership interest in Franchisee, to a transferee/enter into a successor franchise agreement/amend the Agreement] OR [the Agreement is being terminated/or indicate other reason for the requirement of this waiver and release], and Franchisor has consented to such; and
WHEREAS, as a condition to Franchisor's consent, Releasor has agreed to execute this Release upon the terms and conditions stated below.
Source: Item 23 — RECEIPTS (FDD pages 39–172)
What This Means (2025 FDD)
According to Pearce Bespoke's 2025 Franchise Disclosure Document, the General Release of Claims references the Franchise Agreement. The release is made between Pearce Bespoke Franchising, LLC (the Franchisor) and the franchisee.
The document indicates that the franchisee was granted the right to own and operate a Pearce Bespoke business under the Franchise Agreement. The release may be required if the franchisee wants to transfer the agreement, enter into a successor franchise agreement, or amend the agreement. It may also be required if the agreement is being terminated, or for another reason that necessitates the waiver and release.
As a condition of the franchisor's consent to the transfer, renewal, amendment, or termination, the franchisee (referred to as the Releasor) agrees to execute the release. This means a franchisee might be asked to sign away certain rights or claims against Pearce Bespoke as part of these processes. However, this General Release of Claims will not apply to claims arising under the Franchise Investment Protection Act, Chapter 19.100 RCW, or the rules adopted thereunder.