What is the deadline for All County and the franchisee to select their respective appraisers?
All_County Franchise · 2025 FDDAnswer from 2025 FDD Document
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, an appraisal process will be initiated involving three independent appraisers. All County will appoint one appraiser, and the franchisee will appoint another.
The deadline for both All County and the franchisee to select their respective appraisers is within fifteen days after the date that All County determines that they are unable to agree on the business's fair market value. After the franchisee and All County each appoint an appraiser, those two appraisers have fifteen days to appoint a third appraiser.
The franchisee and All County will each bear the cost of their own appraiser. The fees and expenses of the third appraiser will be shared equally between the franchisee and All County. The FDD states that both parties will 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.