Can a The Standardx franchisee waive any of Hyatt's obligations?
The_Standardx Franchise · 2025 FDDAnswer from 2025 FDD Document
18.3 Waiver of Obligations and Force Majeure. Hyatt and Franchisee may unilaterally waive or reduce any obligation of or restriction upon the other under this Agreement only by a signed written instrument, effective upon delivery of written notice to the other or another effective date stated in the notice of waiver. Any waiver granted will be without prejudice to any other rights Hyatt or Franchisee have, will be subject to continuing review, and may be revoked at any time and for any reason effective upon delivery of ten (10) days' prior written notice.
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, both Hyatt and the franchisee can only waive or reduce obligations or restrictions upon the other if it is done through a signed written instrument. This waiver becomes effective upon delivery of written notice to the other party or on another effective date stated in the waiver notice.
Any waiver granted by either Hyatt or the franchisee will not affect any other rights they possess. The waiver is subject to continuous review and can be revoked at any time, for any reason. To revoke a waiver, the revoking party must deliver a ten-day prior written notice to the other party.
This requirement for a written waiver provides a level of protection for both The Standardx (Hyatt) and the franchisee. It ensures that any changes to the agreement are documented and agreed upon by both parties, reducing the potential for misunderstandings or disputes. This is a fairly standard practice in franchising, as it provides clarity and legal certainty to the franchise relationship.