Who must sign a written amendment to the Red Wagon Club franchise agreement for it to be effective?
Red_Wagon_Club Franchise · 2024 FDDAnswer from 2024 FDD Document
- (f) Amendment; Waiver. The Parties acknowledge and agree that this Agreement may not be terminated, modified or amended without Franchisor's prior written consent, which may be withheld in Franchisor's sole discretion. No amendment to this Agreement will be effective unless it is in writing and signed by both Parties and acknowledged in writing by Franchisor. No waiver by any Party of any of the provisions hereof will be effective unless explicitly set forth in writing and signed by the waiving Party. Except as otherwise set forth in this Agreement, no failure to exercise, or delay in exercising, any rights, remedy, power, or privilege arising from this Agreement will operate or be construed as a waiver thereof; nor will any single or partial exercise of any right, remedy, power, or privilege hereunder preclude any other or further exercise thereof or the exercise of any other right, remedy, power, or privilege.
Source: Item 23 — RECEIPTS (FDD pages 47–142)
What This Means (2024 FDD)
According to the 2024 Red Wagon Club Franchise Disclosure Document, any amendment to the agreement between the Franchisee and Licensee requires specific written consent and signatures to be effective. The agreement cannot be modified or amended without the prior written consent of Red Wagon Club, which the franchisor may withhold at its discretion.
For an amendment to be valid, it must be in writing and signed by both the Franchisee and the Licensee. Additionally, Red Wagon Club must acknowledge the amendment in writing. This three-party consent ensures that all parties are in agreement with any changes to the original terms.
This requirement protects the interests of all parties involved by ensuring that no unilateral changes can be made to the agreement. It also gives Red Wagon Club control over modifications, allowing them to maintain consistency and protect their brand standards. Prospective franchisees should understand that any desired changes to their agreement will require the consent of both the Licensee and Red Wagon Club.