Virginia Affidavit of Compliance — Franchise Amendment/Renewal (optional) is a document that is filed with the Virginia State Corporation Commission when a business needs to make changes to an existing franchise agreement or renew an existing franchise agreement. This document is used to confirm that the franchisee is compliant with all the laws and regulations set forth by the Virginia Franchise Act, including the requirements for franchise disclosure documents, registration, and renewal. It can also be used to update information on the franchise agreement or to make changes to the agreement itself. There are two types of Virginia Affidavit of Compliance — Franchise Amendment/Renewal (optional): the Initial Amendment/Renewal and the Renewal Amendment/Renewal. The Initial Amendment/Renewal is used when the franchise agreement is being amended for the first time or when it is being renewed, while the Renewal Amendment/Renewal is used when the franchise agreement is being renewed and no changes are being made to the agreement.
Virginia Affidavit of Compliance - Franchise Amendment/Renewal (optional)
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FAQ
Statute of Frauds. (b) There is a writing, signed by the party against whom enforcement is sought or by that party's authorized agent, sufficient to indicate that a lease contract has been made between the parties and to describe the goods leased and the lease term.
Franchising is a way of running a business. The franchisor largely controls how the franchisee's business is run. They also control the name, brand, and business systems used. A franchise agreement is a legal contract.
The Virginia Retail Franchising Act governs the offer and sale of franchises in Virginia. The goal of the Virginia Retail Franchising Act is to provide presale disclosure and other protections for prospective franchisees.
The Code of Virginia is the official record of laws enacted by the Virginia General Assembly and signed by the Governor. These laws apply to everyone in the Commonwealth of Virginia. The Code of Virginia is organized into 67 Titles dealing with particular topics; Titles are organized into Chapters.
Va. Code Ann. §13.1-559 defines a franchise as a written agreement giving a franchisee the right to sell or distribute retail services or goods pursuant to a plan prescribed by a franchisor and using the franchisor's trademark or other identifying logo and in exchange for a franchise fee of at least $500.
