Is the Bang Cookies Franchise Disclosure Document effective in Hawaii?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
Exhibit K "FDD Receipts," is supplemented with the addition of the following:
The Receipt for this Disclosure Document (Exhibit "K") is supplemented to add the following:
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- THIS FRANCHISE WILL BE/HAVE BEEN FILED UNDER THE FRANCHISE INVESTMENT LAW OF THE STATE OF HAWAII. FILING DOES NOT CONSTITUTE APPROVAL, RECOMMENDATION OR ENDORSEMENT BY THE DIRECTOR OF COMMERCE AND CONSUMER AFFAIRS OR A FINDING BY THE DIRECTOR OF COMMERCE AND CONSUMER AFFAIRS THAT THE INFORMATION PROVIDED HEREIN IS TRUE, COMPLETE AND NOT MISLEADING.
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- THE FRANCHISE INVESTMENT LAW MAKES IT UNLAWFUL TO OFFER OR SELL ANY FRANCHISE IN THIS STATE WITHOUT FIRST PROVIDING TO THE PROSPECTIVE FRANCHISEE, OR SUBFRANCHISOR, AT LEAST SEVEN DAYS BEFORE THE EXECUTION BY THE PROSPECTIVE FRANCHISEE, OF ANY BINDING FRANCHISE OR OTHER AGREEMENT, OR AT LEAST SEVEN DAYS BEFORE THE PAYMENT OF ANY CONSIDERATION BY THE FRANCHISEE, OR SUBFRANCHISOR, WHICHEVER OCCURS FIRST, A COPY OF THE DISCLOSURE DOCUMENT, TOGETHER WITH A COPY OF ALL PROPOSED AGREEMENTS RELATING TO THE SALE OF THE FRANCHISE.
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- THIS DISCLOSURE DOCUMENT CONTAINS A SUMMARY ONLY OF CERTAIN MATERIAL PROVISIONS OF THE FRANCHISE AGREEMENT AND THE CONTRACT OR AGREEMENT SHOULD BE REFERRED TO FOR A STATEMENT OF ALL RIGHTS, CONDITIONS, RESTRICTIONS AND OBLIGATIONS OF BOTH THE FRANCHISOR AND THE FRANCHISEE.
Source: Item 23 — RECEIPTS (FDD pages 56–245)
What This Means (2024 FDD)
According to the 2024 Bang Cookies Franchise Disclosure Document, the document has been filed under the Franchise Investment Law of the State of Hawaii. However, the filing does not mean that the Director of Commerce and Consumer Affairs approves, recommends, or endorses the franchise, nor does it mean that the Director has found the information provided to be true, complete, and not misleading.
The Franchise Investment Law makes it unlawful to offer or sell any Bang Cookies franchise in Hawaii without first providing the prospective franchisee a copy of the disclosure document and all proposed agreements relating to the sale of the franchise. This must be done at least seven days before the earlier of the execution of any binding franchise agreement or the payment of any consideration by the franchisee.
The Bang Cookies disclosure document contains a summary of certain material provisions of the franchise agreement. Prospective franchisees should refer to the contract or agreement for a statement of all rights, conditions, restrictions, and obligations of both Bang Cookies and the franchisee.