In the Southern Steer Franchise Disclosure Document, what is the franchisee acknowledging by signing the document?
Southern_Steer Franchise · 2025 FDDAnswer from 2025 FDD Document
| This "Closing Acknowledgment", attached as Attachment J | to the Southern Steer Franchising International, | |
|---|---|---|
| LLC | Franchise Agreement ("Agreement"), dated | between Southern Steer |
| Franchising International, LLC | ||
| ("Franchisee"), must be completed before or at the same time Franchisee signs the Agreement. To the | ("Franchisor") and | |
| extent not defined herein, all capitalized references in this Closing Acknowledgment will have the meanings | ||
| as defined in the Agreement. | ||
| Maryland. | Do not sign this Questionnaire if you are a resident of Maryland or the business is to be operated in | |
| A. Relevant Dates. | ||
| : The date I received the Franchise Disclosure Document about | ||
| the Southern Steer Business franchise. | ||
| : The date I received a fully completed copy (other than | ||
| signatures) of the Agreement I later signed. | ||
| : The earliest date on which I signed the Agreement or any other | ||
| binding document (not including the receipt). | ||
| : The earliest date on which I delivered cash, check, or | ||
| consideration to a Franchisor | ||
| representative or any other salesperson | ||
| B. | Acknowledgement and Representations. Please answer and initial after each representation. | |
| As Franchisee know, Franchisee and Franchisor operation of a Southern Steer Business. This purpose of this closing acknowledgment is to determine whether any statements or promises were made to Franchisee be untrue, inaccurate or misleading, and to be certain that Franchisee that may be made by Franchisee by reason of the offer and sale of the Southern Steer and operation of Franchisee's Southern Steer Business. Please review each of the following questions carefully and provide honest responses to each question. | are entering into a Franchise Agreement for the that Franchisor has not authorized or that may understands the limitations on claims Business franchise | |
| 1. | Did Franchisee receive a copy of Franchisor's Franchise Disclosure Document (and all exhibits | |
| and attachments) at least (a) 14 days before the execution of the franchise or other agreement or payment | ||
| of any consideration; or (b) if Franchisee are a resident of Iowa at the earlier of first personal meeting or 14 | ||
| days before the execution of the franchise or other agreement or payment of any consideration or (c) if | ||
| Franchisee are a resident of New York or Rhode Island at the earlier of first personal meeting or 10 business | ||
| days before the execution of the franchise or other agreement or payment of any consideration; or (d) if | ||
| Franchisee are a resident of Michigan, Oregon or Washington 10 business days before the execution of any | ||
| binding agreement or payment of | ||
| any consideration. | ||
| Yes | No | Initial |
| 2. | Is the name, address and phone number of any broker and each of Franchisor's employees or |
Source: Item 5 — and 7 of the FDD, Section 3.1 of the Franchise Agreement and Section 4.1 of the Multi-Unit Development Agreement are hereby amended to state that payment of the initial franchise fee and development fee will be deferred until We have satisfied Our pre-opening obligations, and You have commenced business operations. (FDD pages 168–290)
What This Means (2025 FDD)
According to the 2025 Southern Steer Franchise Disclosure Document, the franchisee acknowledges several key points by signing the "Closing Acknowledgment" attached to the Franchise Agreement. This acknowledgment, referred to as Attachment J, is a critical step completed before or at the same time the franchisee signs the Franchise Agreement. The purpose of this acknowledgment is to confirm that no unauthorized statements or promises were made to the franchisee and to ensure the franchisee understands the limitations on claims they can make regarding the Southern Steer business.
Specifically, the franchisee confirms receipt of the Franchise Disclosure Document (FDD), including all exhibits and attachments, within the legally required timeframe. This timeframe varies by state, with a minimum of 14 days before signing the agreement or making any payment, but with specific rules for residents of Iowa, New York, Rhode Island, Michigan, Oregon, and Washington. The franchisee also acknowledges whether they received this document within the specific timeframes mandated by their state of residence, if applicable.
Furthermore, the franchisee acknowledges and represents that they are entering into the Franchise Agreement with a clear understanding of its terms and limitations. This includes confirming that Southern Steer has not authorized any untrue, inaccurate, or misleading statements. The franchisee must provide honest responses to a series of questions designed to determine whether any unauthorized promises were made. This process aims to protect both the franchisee and Southern Steer by ensuring transparency and informed consent in the franchise relationship. The franchisee must initial after each representation to confirm their understanding and agreement.