For Punch King Fitness, what is the effective date for the franchise agreement in California?
Punch_King_Fitness Franchise · 2024 FDDAnswer from 2024 FDD Document
| THIS AGREEMENT is made and entered into as of thisday of, 20 | ||
|---|---|---|
| (the "Effective Date") by and between Punch King Fitness, Inc., a California Corporation | ("Franchisor"), and | |
| , an individual/partnership/corporation/limited liability company | ||
| established/resident of the State of and whose principal | ||
| address is ("Developer"). |
Source: Item 22 — CONTRACTS (FDD pages 56–215)
What This Means (2024 FDD)
According to the 2024 Punch King Fitness Franchise Disclosure Document, the effective date of the franchise agreement is determined by the date written on the agreement. Specifically, the agreement is "made and entered into as of this day of, 20 (the 'Effective Date')." This means the franchise agreement becomes effective on the date that is written on the cover page of the agreement itself.
For prospective Punch King Fitness franchisees, this means the start of their 10-year franchise term is tied to this effective date, as noted in the document under "TERM AND RENEWAL A. Initial Term," which states, "Except as otherwise provided, the term of this Agreement shall be for a period of 10 years commencing on the date set forth on the cover hereof."
It is important for the franchisee to note this date carefully, as it marks the beginning of their contractual obligations and rights under the franchise agreement. This date also serves as a reference point for other deadlines and milestones outlined in the agreement, such as renewal options and termination clauses. Franchisees should ensure that the date accurately reflects when both parties intend the agreement to take effect.