What is the deadline for the appraisers to complete their appraisal of the All County business?
All_County Franchise · 2025 FDDAnswer from 2025 FDD Document
- 23.6.5. Appraisal. If we and you are unable to agree on the Business' fair market value, its fair market value will be determined by three (3) independent appraisers who collectively will conduct one (1) appraisal.
We will appoint one appraiser, you will appoint one appraiser and the two party appointed appraisers will appoint the third appraiser.
You and we agree to select our respective appraisers within fifteen (15) days after the date we determine that we are unable to agree on the Business' fair market value, and the two appraisers so chosen are obligated to appoint the third appraiser within fifteen (15) days after the date on which the last of the two party appointed appraisers was appointed.
You and we will bear the cost of our own appraisers and share equally the reasonable fees and expenses of the third appraiser chosen by the two party appointed appraisers.
You and we will take reasonable actions to cause the appraisers to complete their appraisal within thirty (30) days after the third appraiser's appointment.
- 23.6.6. Closing. The purchase price will be paid at the closing of the purchase, which will take place not later than ninety (90) days after determination of the purchase price.
Source: Item 23 — Receipts (FDD pages 43–157)
What This Means (2025 FDD)
According to All County's 2025 Franchise Disclosure Document, if All County and the franchisee cannot agree on the fair market value of the business, three independent appraisers will conduct an appraisal. All County will appoint one appraiser, the franchisee will appoint one appraiser, and the two appraisers chosen by each party will then appoint a third appraiser.
The franchisee and All County must select their respective appraisers within fifteen days after determining that they cannot agree on the business's fair market value. The two party-appointed appraisers then have fifteen days from the appointment of the last of the two party-appointed appraisers to select the third appraiser.
All County and the franchisee must take reasonable actions to ensure the appraisers complete their appraisal within thirty days after the third appraiser's appointment. Following the appraisal, the closing of the purchase will occur no later than ninety days after the determination of the purchase price.