Is there a Sample Release included as an exhibit in the Southern Steer FDD?
Southern_Steer Franchise · 2025 FDDAnswer from 2025 FDD Document
Issuance Date: January 31, 2025. I received a disclosure document dated January 31, 2025, that included the following Exhibits:
Exhibit A: Franchise Agreement and Attachments Attachment A Attachment B Attachment C Personal Guaranty Attachment D Attachment E Attachment F Attachment G Attachment H Attachment I-1 Attachment I-2 Attachment J Franchisee Questionnaire Site, Protected Area, Required Opening Date Statement of Ownership Authorization to Honor Electronic Funds Transfer Conditional Assignment of Telephone Listing, Social Media and Directory Listing Agreement Landlord's Consent to Assignment Lease Form of Lease Addendum State Specific Addendum Non-Competition and Non-Disclosure Agreement (Owners) Non-Competition and Non-Disclosure Agreement (Management Staff) Exhibit B: Financial Statements Exhibit C: List of Current and Former Franchisees, Company-Owned Southern Steer Businesses and Franchise Agreements Signed But Not Opened Exhibit D: Multi-Unit Development Agreement Exhibit E: Sample Release Exhibit F: State Agency/Agents for Service of Process Exhibit G: State-Specific Addendum Exhibit H: Brand Manual Table of Contents Exhibit I: Deposit Agreement Exhibit J: State Effective Dates and Receipt
Source: Item 21 — EXHIBIT B: FINANCIAL STATEMENTS (FDD page 6)
What This Means (2025 FDD)
According to the 2025 Southern Steer Franchise Disclosure Document, a Sample Release is included as Exhibit E. This exhibit is listed among other key documents such as the Franchise Agreement, Financial Statements, and the Multi-Unit Development Agreement. Prospective franchisees can review this Sample Release to understand the scope and terms of the release required by Southern Steer.
As Exhibit E, the Sample Release provides an example of the type of release a franchisee might be required to sign during the course of their franchise agreement. This could pertain to various situations, such as releasing Southern Steer from liability related to specific events, marketing activities, or other operational aspects of the business. Reviewing this document is crucial for a potential franchisee to understand their obligations and potential liabilities.
Franchisees should carefully examine the Sample Release and seek legal counsel to fully understand its implications. Understanding the conditions under which a release might be required and the extent of the liabilities being released is essential for making an informed decision about investing in a Southern Steer franchise. This proactive approach ensures that franchisees are aware of their rights and responsibilities within the franchise system.