Where can I find the Pearce Bespoke Area Development Agreement in the Disclosure Document?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 22: CONTRACTS]
AMENDMENT TO THE PEARCE BESPOKE AREA DEVELOPMENT AGREEMENT REQUIRED BY THE STATE OF MARYLAND
In recognition of the requirements of the Maryland Franchise Registration and Disclosure Law, Md. Code Ann., Bus. Reg. § 14-201 et seq., and of the Rules and Regulations promulgated thereunder, the parties to the attached Pearce Bespoke (the "Area Development Agreement") agree as follows:
Source: Item 22 — CONTRACTS (FDD page 39)
What This Means (2025 FDD)
According to the 2025 Pearce Bespoke Franchise Disclosure Document, the Area Development Agreement is referenced within Item 22, which covers contracts. Specifically, there is an amendment to the Pearce Bespoke Area Development Agreement required by the state of Maryland. This amendment acknowledges Maryland's franchise regulations and applies to the attached Area Development Agreement.
For a prospective Pearce Bespoke area developer, this indicates that the complete Area Development Agreement should be included as an attachment within the FDD, especially when offering franchises in Maryland. The presence of a state-specific amendment suggests that the standard agreement may need to be modified to comply with local laws, which is a common practice in franchising due to varying state regulations.
It is important for potential developers to carefully review the Area Development Agreement and any state-specific amendments with legal counsel to fully understand their rights and obligations. This includes understanding the development schedule, territory rights, and any conditions or restrictions imposed by the agreement or state law.