Is the General Release of Claims signed when purchasing a Pearce Bespoke franchise?
Pearce_Bespoke Franchise · 2025 FDDAnswer from 2025 FDD Document
[This is our current standard form of General Release. This document is not signed when you purchase a franchise. In circumstances such as a renewal of your franchise or as a condition of our approval of a sale of your franchise, we may require you to sign a general release.]
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.
Source: Item 23 — RECEIPTS (FDD pages 39–172)
What This Means (2025 FDD)
According to the 2025 Pearce Bespoke FDD, the General Release of Claims is typically not signed when initially purchasing a franchise. However, Pearce Bespoke may require a franchisee to sign this release in other circumstances. These circumstances include the renewal of the franchise agreement or as a condition for Pearce Bespoke's approval of a sale of the franchise.
The General Release of Claims is a document where the franchisee (Releasor) releases Pearce Bespoke (Franchisor) from any and all claims, liabilities, damages, expenses, actions, or causes of action. This release extends to Pearce Bespoke's affiliates, parents, subsidiaries, officers, directors, agents, partners, shareholders, employees, representatives, successors, assigns, and attorneys.
However, the General Release of Claims does not apply to claims arising under the Franchise Investment Protection Act, Chapter 19.100 RCW, for franchisees in Washington State. This means that franchisees in Washington State retain their rights under this specific law, even if they sign the general release for other matters. The FDD includes the General Release of Claims form as Exhibit G.
Prospective franchisees should carefully review the General Release of Claims and understand its implications, especially concerning the specific circumstances under which it may be required. It is advisable to seek legal counsel to fully understand the scope and impact of the release before signing.