A surrender deed or deed of release is the document which terminates or surrenders the franchise agreement and sets out what is required after the franchise agreement has ended.
What terms are usually in a surrender deed?
Apart from the surrender or termination of the franchise agreement, a surrender deed will generally contain terms such as:
- releases (the franchisee will release the franchisor from the franchisor's obligations under the franchise agreement together with any claims the franchisee may have against the franchisor);
- payment (if any);
- intellectual property.
Surrender Deed Reviews
We will review your surrender deed considering:
- whether the deed reflects any agreement reached between you and the franchisor;
- whether the deed reflects usual commercial practice;
- whether there is anything unusual or unenforceable contained in the deed.
We will provide you with advice about
- the terms of the deed (including any unusual or unfair terms);
- the legal consequences of signing the deed in its current form (including the legal consequences of signing any releases);
- the operation of any restraint of trade clauses.