Under what circumstances would I need to use the release form provided by The Standardx?
The_Standardx Franchise · 2025 FDDAnswer from 2025 FDD Document
13.3 Agreements/Releases. If Franchisee satisfies all of the other conditions for a successor franchise agreement under this ARTICLE XIII, Franchisee agrees to sign the form of franchise agreement and any ancillary agreements Hyatt then customarily uses in granting franchises for Brand Hotels (modified as necessary to reflect the fact that it is for a successor franchise and that there will be no further renewal or successor franchise rights), which may contain provisions that differ materially from any and all of those contained in this Agreement, except that Hyatt will not charge a successor franchise fee. Franchisee and the Guarantors further agree to sign general releases, in a form satisfactory to Hyatt, of any and all claims against Hyatt and its Affiliates and its and their respective owners, officers, directors, managers, employees, agents, representatives, successors, and assigns.
Source: Item 22 — Contracts (FDD page 85)
What This Means (2025 FDD)
According to The Standardx's 2025 Franchise Disclosure Document, a franchisee may be required to sign a release form under certain circumstances, specifically when renewing their franchise agreement. If a franchisee meets all the requirements for a successor franchise agreement, they must sign The Standardx's current franchise agreement and any related agreements. These documents may include terms that differ significantly from the original agreement. However, The Standardx will not charge a successor franchise fee.
In addition to the franchise agreement, the franchisee and any guarantors must also sign general releases. These releases, in a form satisfactory to The Standardx, waive any and all claims against The Standardx, its affiliates, and their respective owners, officers, directors, managers, employees, agents, representatives, successors, and assigns.
It is important to note that if the franchise is located or operated in Maryland, the general release will not apply to any liability under the Maryland Franchise Registration and Disclosure Law. This means that while a franchisee may sign a general release, they still retain certain rights and protections under Maryland law.