What is the purpose of the duplicate copy of the receipt in the Bang Cookies Disclosure Document?
Bang_Cookies Franchise · 2024 FDDAnswer from 2024 FDD Document
Two copies of a detachable receipt in Exhibit K are located at the very end of this Disclosure Document. Please sign one copy of the receipt and return it to us at the following address George Kuan, Bang Cookies Franchise LLC, 550 Industrial Road, Unit D, Carlstadt, New Jersey 07072. The duplicate is for your records.
Source: Item 23 — RECEIPTS (FDD pages 56–245)
What This Means (2024 FDD)
According to Bang Cookies' 2024 Franchise Disclosure Document, two copies of a detachable receipt are included at the end of the document. The franchisee is instructed to sign one copy and return it to George Kuan at Bang Cookies Franchise LLC, located at 550 Industrial Road, Unit D, Carlstadt, New Jersey 07072. The duplicate copy is for the franchisee's own records.
This receipt serves as an acknowledgment that the prospective franchisee received the FDD. Franchisors like Bang Cookies need to maintain records showing they provided the FDD within the legally mandated timeframe. This protects both the franchisor and franchisee by documenting the date the disclosure document was received.
By signing and returning the receipt, the potential Bang Cookies franchisee confirms they have received the document, which contains important information about the franchise opportunity. Keeping the duplicate allows the franchisee to have proof of receipt for their own records, which can be useful in case of any future disputes or misunderstandings.