What form of payment is required for the B Bops development fee?
B_Bops Franchise · 2025 FDDAnswer from 2025 FDD Document
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- DEVELOPMENT FEE. In consideration of the development rights granted by Company hereunder, Developer agrees to pay Company by certified or cashier's check the development fee specified in Appendix III attached hereto upon execution of this Agreement. Such fee shall be deemed fully earned upon execution of this Agreement and shall not be refundable to Developer under any circumstances. Any deposit paid by Developer prior to execution of this Agreement shall be applied toward satisfaction of the development fee. A portion of such development fee, to be specified in Appendix III attached hereto, shall be applied by Company toward the initial franchise fee payable under the Unit Franchise Agreement executed for each Unit developed by Developer pursuant to this Agreement. Company and Developer acknowledge and agree that the payment terms imposed by this Agreement with respect to the development fee and the initial franchise fee payable for Units developed pursuant hereto are in lieu of and supersede the terms of any Unit Franchise Agreement relating to the amount and time of payment of the initial franchise fee.
Source: Item 23 — RECEIPTS (FDD pages 53–145)
What This Means (2025 FDD)
According to B Bops' 2025 Franchise Disclosure Document, the development fee must be paid via certified or cashier's check. This payment is required upon the execution of the Development Agreement.
This fee is deemed fully earned by B Bops upon execution of the agreement and is non-refundable under any circumstances. Any deposit paid by the developer prior to signing the agreement will be applied towards the development fee.
Furthermore, a portion of the development fee, as specified in Appendix III of the FDD, will be credited towards the initial franchise fee required for each B Bops unit developed under the agreement. The payment terms outlined in the Development Agreement supersede any conflicting terms in the standard Unit Franchise Agreement regarding the amount and timing of the initial franchise fee payments.