What constitutes the 'Agreement' according to The Standardx's definition?
The_Standardx Franchise · 2025 FDDAnswer from 2025 FDD Document
- 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understandings or agreements reached, or any representations made, before this Agreement are superseded by this Agreement).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.
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 agreement between Hyatt and the franchisee encompasses several documents. The core of the agreement is the Franchise Agreement itself, which becomes valid and enforceable once signed by both the franchisee and Hyatt at its Chicago office. This agreement can be executed in multiple counterparts, which collectively form a single agreement.
Specifically, the 'Agreement' includes the Preliminary Statement and Exhibits, any attached PIP (Property Improvement Plan), any state-specific Rider signed concurrently, and the Franchise Application submitted by the franchisee (or its Owner or Affiliate). These components, taken together, represent the entire understanding between The Standardx and the franchisee, superseding any prior oral or written agreements or representations.
Prospective franchisees should be aware that The Standardx retains the right to modify the Hotel System, System Standards, System Services, and System Services Charges. Any modifications to the agreement must be in writing and signed by authorized officers of both parties. Franchisees cannot rely on any alleged understandings, agreements, or representations not explicitly included in the written agreement. However, franchisees are entitled to rely on representations made by The Standardx in the most recent franchise disclosure document.