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Franchise Agreement - With Principal

Franchise Agreement - With Principal

Neutral

This document is a Master Franchise Agreement for operation within a certain territory where it is also binding on the Principal of the Franchisee as an individual. This document is drafted in a neutral form.

The Franchisor is engaged in a specific field of business and has spent substantial time, effort and money to develop a distinctive system of business operation and build up a brand name under the Franchise Agreement. Such systems usually comprise of, inter alia, mature management methods, operational procedures, techniques and marketing strategies.

The Franchisee desires to obtain the benefit of the knowledge, skill and experience of the Franchisor and the rights to operate with the insignia of the Franchisor. In addition, since the Franchisor has already garnered a substantial reputation and goodwill in their field of business, the Franchisee can benefit from the usage of an established brand name.

The specific rights and liabilities of both parties are set out in the terms of the Franchise Agreement. A Franchisee should note that most Franchisors have high standards and uniform specifications that Franchisees must abide by.

The Franchisor hereby grants the Franchisee upon the terms and conditions herein contained the right and license to use their Proprietary Marks only:

(a) in the Business;

(b) at and from the Premises;

(c) within the Territory;

(d) under the Permitted Name;

(e) in accordance with the System and the Operating Manual

 

How to use this Document?

This Franchise Agreement should be carefully read by the Franchisor, Franchisee and Principal of the Franchise. In particular, the Principal is essentially acting as a guarantor for the Franchisee and may invoke personal liability.

The parties should sign and return a copy, and once signed, both parties should get a copy. To avoid future disputes, both parties may wish to have their signature witnessed.

Terms and Conditions and rights and liabilities should all be clearly stated in the Franchise Agreement.

If either party wishes to amend the agreement in the future, both parties should agree to do so, and the original agreement and amendments should be recorded in writing and signed by both parties.

 

How to Tailor the Document for Your Need?

  1. Create Document: Click “Create Document” button and fill in the details of the parties. You can click the "Fill with Member's Information" button to complete the party's information with your personal or business information saved to your account.

  2. Please fill in any additional information by following the step-by-step guide on the left-hand side of the preview document and click the “Next” button.

  3. When you are done, click the “Get Document” button and you can download the document in Word or PDF format.

  4. Please get all the parties to review the document carefully and make any final modifications to ensure that the details are correct before signing the document. Each party should have a copy of the executed document.

 
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