What is the name of the written notice a Bang Cookies franchisee must provide to renew their franchise?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
(5) Franchisee pays the Renewal Fee and Franchisee agrees to, signs, and delivers to Franchisor, within 30 days of the date of delivery by Franchisor to Franchisee, Franchisor's then current form Shop Franchise Agreement for the Renewal Term (the "Renewal Franchise Agreement");
(6) Franchisee's Owners and their Spouses, respectively, must agree to, sign, and deliver to Franchisor, within 30 days of the date of delivery by Franchisor to Franchisee, Franchisor's then current individual guaranty agreements, and, thereby, among other things, individually and jointly guarantee the full and complete performance of the Renewal Franchise Agreement including, but not limited to, payment obligations, non-compete obligations, and restrictive covenants (the "Renewal Ancillary Agreements");
(7) Franchisee and the Owners must, prior to the Renewal Term, undertake and complete, to Franchisor's satisfaction, such additional training, if any, as designated and determined by Franchisor in Franchisor's Reasonable Business Judgment; and
(8) Franchisee and the Owners must agree to, sign, and deliver to Franchisor, within 30 days of the date of delivery by Franchisor to Franchisee, Franchisor's then current form of general release whereby Franchisee and Franchisee's Owners shall each fully release and discharge Franchisor, Franchisor's affiliates and it's officers, directors, shareholders, partners, agents, representatives, independent contractors, servants, employees, successors and assigns from any and all claims, causes of action, and suits arising from and/or related to this Agreement.
Source: Item 23 — RECEIPTS (FDD pages 56–245)
What This Means (2024 FDD)
According to Bang Cookies's 2024 Franchise Disclosure Document, to renew a franchise agreement, a franchisee does not provide a specific written notice to Bang Cookies. Instead, the franchisee must fulfill several conditions, including paying a renewal fee and agreeing to, signing, and delivering Bang Cookies' then-current form Shop Franchise Agreement for the Renewal Term, referred to as the "Renewal Franchise Agreement." This agreement must be delivered to Bang Cookies within 30 days of the date of delivery by Bang Cookies to the franchisee.
Additionally, the franchisee's owners and their spouses must agree to, sign, and deliver to Bang Cookies, within the same 30-day timeframe, Bang Cookies' then-current individual guaranty agreements, known as the "Renewal Ancillary Agreements." These agreements guarantee the full performance of the Renewal Franchise Agreement, including payment and non-compete obligations. Franchisees and their owners must also complete any additional training that Bang Cookies deems necessary before the renewal term.
Furthermore, franchisees and owners must agree to, sign, and deliver to Bang Cookies a general release form within 30 days of its delivery by Bang Cookies. This release discharges Bang Cookies from any claims related to the Franchise Agreement. Therefore, there is no single document called a 'written notice' for renewal; rather, renewal is contingent on fulfilling these multiple requirements and agreements.