What is the agreement made between for The Standardx?
The_Standardx Franchise · 2025 FDDAnswer from 2025 FDD Document
- 18.4 Binding Effect. This Agreement is valid and enforceable only when signed by Franchisee and signed and accepted by Hyatt at its office in Chicago, Illinois, whether signed by original or electronic signature. This Agreement may be executed in one or more counterparts, which, when taken as a whole, shall constitute a single agreement.
- 18.5 Entire Agreement and Construction. This Agreement is binding upon Hyatt and Franchisee and their respective permitted assigns and successors in interest. Subject to Hyatt's right to modify the Hotel System, System Standards, System Services and System Services Charges (including the methods of allocating costs for System Services), from time to time, this Agreement may not be modified except by a written agreement signed by both Hyatt's and Franchisee's duly-authorized officers. The Preliminary Statement and Exhibits, the attached PIP (if applicable), any state-specific Rider to this Agreement signed by Hyatt and Franchisee at the same time as this Agreement, and the Franchise Application that Franchisee (or its Owner or Affiliate) submitted to Hyatt relating to the Hotel, are a part of this Agreement, which constitutes Hyatt's and Franchisee's entire agreement, and there are no other oral or written understandings or agreements between Hyatt and Franchisee, and no other oral or written representations by Hyatt, relating to the subject matter of this Agreement, the franchise relationship, or the Hotel (any
understandings or agreements reached, or any representations made, before this Agreement are superseded by this Agreement). Franchisee may not rely on any alleged oral or written understandings, agreements, or representations not contained in this Agreement. Notwithstanding the foregoing, nothing in this Agreement or any related agreement shall disclaim or require Franchisee to waive reliance on any representation that Hyatt made in the most recent franchise disclosure document (including its exhibits and amendments) that Hyatt delivered to Franchisee or its representative.
Any policies that Hyatt adopts and implements from time to time to guide Hyatt in its decision-making are subject to change, are not a part of this Agreement, and are not binding on Hyatt. Except as expressly provided in this Agreement, nothing in this Agreement is intended or deemed to confer any rights or remedies upon any person or legal entity not a party to this Agreement.
Source: Item 18 — OTHER INCOME (LOSS), NET (FDD pages 187–399)
What This Means (2025 FDD)
According to The Standardx's 2025 Franchise Disclosure Document, the franchise agreement is made between the Franchisee and Hyatt. The agreement becomes valid and enforceable once signed by both the Franchisee and Hyatt at Hyatt's Chicago office, regardless of whether the signatures are original or electronic. The document specifies that the agreement can be executed in multiple counterparts, which collectively form a single agreement.
The agreement binds Hyatt and the Franchisee, including their permitted assigns and successors. While Hyatt retains the right to modify the Hotel System, System Standards, and System Services Charges, any other modifications to the agreement require a written agreement signed by authorized officers from both Hyatt and the Franchisee. The franchise agreement encompasses the Preliminary Statement and Exhibits, any applicable PIP (Property Improvement Plan), state-specific Riders, and the Franchise Application submitted by the Franchisee.
The franchise agreement represents the entire understanding between Hyatt and the Franchisee, superseding any prior oral or written agreements or representations. Franchisees are cautioned against relying on any understandings, agreements, or representations not explicitly included in the agreement. However, the agreement does not disclaim the Franchisee's reliance on representations made by Hyatt in the most recent franchise disclosure document. The document also clarifies that any policies adopted by Hyatt are subject to change and are not binding unless expressly included in the agreement, and it does not confer rights to any third parties not part of the agreement.