What is dependent on The Standardx franchisee's timely, accurate, and effective performance of all Franchisee's responsibilities set forth in Exhibit E?
The_Standardx Franchise · 2025 FDDAnswer from 2025 FDD Document
Franchisee agrees to perform, in a timely manner, the tasks identified as Franchisee's responsibilities in Exhibit E.
Franchisee acknowledges that Hyatt's performance of the IT Project Management Services is dependent on Franchisee's timely, accurate, and effective performance of all Franchisee's responsibilities set forth in Exhibit E, including providing written notice to Hyatt of Franchisee's designated representative.
Franchisee further acknowledges and agrees that its failure to perform may prevent or delay Hyatt's performance of the IT Project Management Services and/or require modifications to the services performed, including an adjustment to the scope of work, completion schedule or fees.
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, Hyatt's performance of IT Project Management Services is dependent on the franchisee's timely, accurate, and effective performance of all responsibilities outlined in Exhibit E. This means that if a franchisee fails to meet their obligations as detailed in Exhibit E, it could directly impact Hyatt's ability to deliver the IT Project Management Services as expected.
Specifically, the FDD highlights that a franchisee's failure to perform their responsibilities may either prevent or delay Hyatt's performance of these IT Project Management Services. Furthermore, such failures could necessitate modifications to the services being performed. These modifications might include adjustments to the scope of work, the project's completion schedule, or the fees associated with the services.
For a prospective The Standardx franchisee, this underscores the importance of understanding and diligently fulfilling all responsibilities detailed in Exhibit E. Failure to do so not only impacts the franchisee's own operations but also affects the services provided by Hyatt, potentially leading to delays, increased costs, or alterations to the project's scope. Therefore, a clear understanding of Exhibit E is crucial for ensuring a smooth and successful implementation of IT Project Management Services.