What is Exhibit 'A' attached to the Petro Stopping Center franchise agreement?
Petro_Stopping_Center Franchise · 2025 FDDAnswer from 2025 FDD Document
- (c) the Owners Statement will completely and accurately describe all of your Owners and their interests in you.
A copy of our current form of Owners' Statement is attached to this Agreement as Exhibit "A";
- (d) you and your Owners agree to revise the Owners Statement as may be necessary to reflect any ownership changes and to furnish such other information about your organization or formation as we may request (no ownership changes may be made without our prior written approval);
Source: Item 14 — Other investments (FDD pages 131–208)
What This Means (2025 FDD)
According to the 2025 Petro Stopping Center Franchise Disclosure Document, Exhibit A attached to the franchise agreement is a copy of the current form of Owners' Statement. This statement is crucial for Petro Stopping Center to understand the ownership structure of the franchisee, especially if the franchisee is a business entity.
The Owners' Statement requires the franchisee to completely and accurately describe all owners and their respective interests in the business. This ensures transparency and allows Petro Stopping Center to assess who is involved in the ownership and management of the franchise. Furthermore, the franchisee must agree to revise the Owners' Statement as necessary to reflect any ownership changes, although these changes require prior written approval from Petro Stopping Center.
This requirement is typical in franchising, as franchisors need to know and approve who controls their franchisees. By retaining approval rights over ownership changes and mandating accurate, updated ownership disclosures via the Owners' Statement, Petro Stopping Center maintains control over who operates under their brand and system. This helps protect the integrity and consistency of the Petro Stopping Center brand.