Is a Deposit Agreement included as an exhibit to the Franchise Agreement for Bananas Smoothies Frozen Yogurt?
Bananas_Smoothies_Frozen_Yogurt Franchise · 2025 FDDAnswer from 2025 FDD Document
[Item 22: CONTRACTS]
Exhibit One B Addendum to Lease
Exhibit One D Owner's Personal Guaranty of Franchisee's Obligations
Exhibit One D-1 Corporate Guaranty of Franchisee's Obligations
Exhibit One E SBA Addendum to Franchise Agreement
Exhibit One G Applicable State Addendums
Exhibit One J Deposit Agreement
Exhibit B: Area Development Agreement
Exhibit Two B Owner's Personal Guaranty of Developer's Obligations
Exhibit Two C Corporate Guaranty of Developer's Obligations Exhibit Two D Confidentiality And Non-Competition Agreement
Exhibit Two E Deposit Agreement
Exhibit Two F State Riders
Exhibit C State Addendum to FDD Exhibit J Sublease Agreement
Source: Item 22 — CONTRACTS (FDD pages 57–58)
What This Means (2025 FDD)
According to the 2025 Bananas Smoothies Frozen Yogurt Franchise Disclosure Document, a Deposit Agreement is included as an exhibit. Specifically, Exhibit One J is listed as a Deposit Agreement. Additionally, Exhibit Two E, under what appears to be a section related to Area Development Agreements, is also a Deposit Agreement.
This indicates that Bananas Smoothies Frozen Yogurt uses a Deposit Agreement in its franchising process. A Deposit Agreement typically outlines the terms and conditions under which a potential franchisee provides a deposit to the franchisor. This deposit may be for securing a territory, beginning the franchise approval process, or other preliminary steps.
Prospective Bananas Smoothies Frozen Yogurt franchisees should carefully review the Deposit Agreement to understand the conditions for refundability, the application of the deposit towards the initial franchise fee or other costs, and any obligations that arise upon signing the agreement. It is important to note whether the deposit is fully refundable if the franchisee is not approved or chooses not to proceed, and what specific criteria determine refund eligibility. Understanding these terms is crucial before making any financial commitment to Bananas Smoothies Frozen Yogurt.