What is the deadline for the closing of the All County business purchase after the purchase price is determined?
All_County Franchise · 2025 FDDAnswer from 2025 FDD Document
- 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.
We have the right to set off against the purchase price, and thereby reduce the purchase price by, any and all amounts you or your owners owe to us.
23.6.7. Instruments. At the closing, you agree to deliver instruments transferring:
23.6.7.1. good and merchantable title to the assets purchased, free and clear of all liens and encumbrances (other than liens and security interests acceptable to us), with all sales and other transfer taxes paid by you; and
23.6.7.2. all licenses and permits of the Business which may be assigned or transferred; and
23.6.7.3. the leasehold interest in the Location and improvements thereon.
Source: Item 23 — Receipts (FDD pages 43–157)
What This Means (2025 FDD)
According to All County's 2025 Franchise Disclosure Document, the closing of the business purchase must occur no later than ninety (90) days after the purchase price is determined. This means that once All County and the franchisee agree on the fair market value of the business, or once the independent appraisers determine the value, the final transaction must be completed within that 90-day window.
All County retains the right to offset any debts the franchisee owes to them against the purchase price. This could reduce the amount All County pays for the business if the franchisee has outstanding financial obligations to the company.
At closing, the franchisee is responsible for delivering instruments that transfer good title to the assets being purchased, free of liens and encumbrances (unless All County approves them). The franchisee must also transfer all assignable licenses and permits, as well as the leasehold interest in the location. This ensures that All County receives all necessary legal rights and documentation to operate the business smoothly after the purchase.